Author: Paul Ploumis
24 Oct 2014 Last updated at 03:15:16 GMT
TOKYO (Scrap Monster): The country's top producer of H-beams- Tokyo Steel has announced further cut ranging from ¥ 500/ton to ¥ 1,000/ton in scrap purchasing prices. The new prices will be effective for all deliveries to its works and scrap yards beginning Friday, October 24th, 2014.
Post cut, the average scrap purchasing price of H2 grade scrap now remain in the range ¥ 28,500~ ¥ 29,500/ton.
The scrap purchasing prices at Okayama works in Western Japan will be reduced by ¥ 500/ton to ¥ 28,500/ton and those in Kyushu will see a drop of ¥ 1,000/ton to ¥ 29,500/ton.
Tokyo Steel's scrap purchasing prices in Tahara works in Central Japan will be ¥ 290,000/ton, while those in Takamatsu steel center on Shikoku Island will be reduced by ¥ 500/ton to ¥ 28,500/ton.
The scrap purchasing prices at Utsunomiya works in northern Kanto have now dropped by ¥ 1,000/ton to ¥ 29,500/ton.
This the seventh price cut by the company since Sep 27th this year. Tokyo Steel had announced cut of ¥ 1,000/ton in scrap purchasing prices last week also.
Meanwhile, the H2 scrap base prices have dropped to ¥ 27,000/ton to ¥ 27,500/ton in the Tokyo Bay region as on October 22nd. The base prices of P&S scrap and Shindachi scraps averaged at ¥ 29,000/ton to ¥ 29,500/ton in the region.