Author: Paul Ploumis
09 Mar 2015 Last updated at 02:36:30 GMT
TOKYO (Scrap Monster): The country’s top producer of H-beams- Tokyo Steel has announced further cut of ¥ 500/ton in scrap purchasing prices. The new prices are being made effective for all deliveries to its Utsunomiya works with effect from Saturday, March 7th, 2015. This is the second consecutive week that the company has declared price cut at Utsunomiya works.
Post cut, the average scrap purchasing price of H2 grade scrap now remain in the range ¥ 23,000~ ¥ 25,000/ton.
The scrap purchasing prices at Okayama works in Western Japan will be ¥ 23,500/ton and those in Kyushu will remain unchanged at ¥ 24,000/ton.
Tokyo Steel’s scrap purchasing prices in Tahara works in Central Japan will be ¥ 24,500/ton, while those in Takamatsu steel center on Shikoku Island will be ¥ 23,000/ton.
The scrap purchasing prices at Utsunomiya works in northern Kanto will now be reduced by ¥ 500/ton to ¥ 25,000/ton.
Despite decline of ¥ 500/ton in scrap purchasing prices in the Osaka region, a few mills including Yamato Steel Co. have kept their scrap purchasing prices flat. The routine maintenance shutdown by various mills in the region has resulted in sharp drop in scrap demand.