By Paul Ploumis 16 Jun 2015 Last updated at 05:12:42 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 Tuesday, June 16th, 2015.
The hike in scrap purchasing prices is the second during this month. Earlier, Tokyo Steel had raised the scrap purchasing price for all grades delivered to its works on June 3rd by ¥ 500/ton. After announcement, H2 scrap purchasing prices at various works averaged between ¥ 25,000/ton and ¥ 27,000/ton.
The scrap purchasing prices at Okayama works in Western Japan will be increased by ¥ 500/ton to ¥ 25,500/ton and those in Kyushu works in Western Japan will be ¥ 26,000/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 ¥ 25,000/ton.
The scrap purchasing prices at Utsunomiya works in north of Tokyo will now be ¥ 27,000/ton ($214.90/ton).
The rise in scrap export prices has forced Tokyo Steel to increase its scrap purchasing prices, sources say.