By  Paul Ploumis 29 Jun 2015  Last updated at  05:43:27 GMT

TOKYO (Scrap Monster): The country’s top electric steel producer- Tokyo Steel Manufacturing has decided to cut purchasing prices for all grades of ferrous scrap delivered to its entire works. According to company website, the purchasing prices are being reduced by ¥ 500/ton to ¥ 1,000/ton effective Saturday, June 27th, 2015.

 

The cut in scrap purchasing prices is the first 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. Also, it had raised the prices by ¥ 500/ton effective June 16th, 2015.

 

Post announcement, H2 scrap purchasing prices at various works averaged between ¥ 24,500/ton and ¥ 26,000/ton.

 

The scrap purchasing prices at Okayama works in Western Japan will be cut 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 reduced ¥ 500/ton to ¥ 24,500/ton.

 

The scrap purchasing prices at Utsunomiya works in north of Tokyo will now be ¥ 26,000/ton.