Tokyo steel announces further cut in H2 scrap purchasing price

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 will be effective for all deliveries to its works and scrap yards beginning Wednesday, January 28^th, 2015. This is the fourth consecutive cut in less than three weeks. Earlier, the company had announced cut of ¥ 500/ton in scrap buying price effective Jan 7^th and Jan 10^th, 2015. Also, it had lowered buy prices for scrap at Tahara works last week.

Post cut, the average scrap purchasing price of H2 grade scrap now remain in the range ¥ 23,000~ ¥ 26,500/ton.

The scrap purchasing prices at Okayama works in Western Japan will be reduced by ¥ 500/ton to ¥ 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 ¥ 25,000/ton, while those in Takamatsu steel center on Shikoku Island will be reduced by ¥ 500/ton to ¥ 23,000/ton.

The scrap purchasing prices at Utsunomiya works in northern Kanto will be now ¥ 26,500/ton.