By Paul Ploumis 10 Sep 2015 Last updated at 02:10:40 GMT
Tokyo Steel has decided to lower the scrap purchasing prices at its various works by ¥ 100/ton effective today.
TOKYO (Scrap Monster): The country’s top electric steel producer- Tokyo Steel Manufacturing has decided to cut purchasing prices of entire range of ferrous scrap delivered to its various works. According to company website, the purchasing prices will be reduced by ¥ 100/ton effective Thursday, September 10th, 2015.
This is the first cut announced by Tokyo Steel during the month of September.
Post cut, H2 scrap purchasing prices at various works averaged between ¥ 17,000/ton and ¥ 18,000/ton.
The scrap purchasing prices at Okayama works in Western Japan will be cut by ¥ 100/ton to ¥ 18,000/ton and those in Kyushu works in Western Japan will be ¥ 18,000/ton.
Tokyo Steel’s scrap purchasing prices in Tahara works in Central Japan will be ¥ 17,500/ton, while those in Takamatsu steel center on Shikoku Island will be reduced ¥ 100/ton to ¥ 17,000/ton.
The scrap purchasing prices at Utsunomiya works in north of Tokyo will now be ¥ 18,000/ton.