Author: Paul Ploumis03 Jun 2015 Last updated at 05:45:03 GMT
TOKYO (Scrap Monster): The country’s top electric steel producer- Tokyo Steel Manufacturing has increased purchasing prices for all grades of ferrous scrap delivered to its entire works. According to company website, the purchasing prices are being increased by Yen 500 per mt effective Wednesday, June 3rd, 2015.
The change in scrap purchasing prices is the third since April 21st, when Tokyo Steel had increased scrap buying prices for all grades delivered at Utsunomiya works and for turning grade delivered to Takamatsu Steel Center.
The scrap purchasing prices at Okayama works in Western Japan will be increased by ¥ 500/ton to ¥ 25,000/ton and those in Kyushu works in Western Japan will be ¥ 25,500/ton.
Tokyo Steel’s scrap purchasing prices in Tahara works in Central Japan will be ¥ 26,000/ton, while those in Takamatsu steel center on Shikoku Island will be hiked by ¥ 500/ton to ¥ 24,500/ton.
The scrap purchasing prices at Utsunomiya works in north of Tokyo will be now ¥ 27,000/ton ($214.90/ton).
According to traders, rise in export prices of Japanese scrap has prompted Tokyo Steel to hike its scrap purchasing prices.