Tokyo steel cuts H2 scrap buying prices second time in three days

TOKYO (Scrap Monster): The country’s top producer of H-beams- Tokyo Steel has announced further cut of ¥ 1,000/ton in scrap purchasing prices. The new prices will be effective for all deliveries beginning Friday, October 17^th, 2014 at all its five steel works.

Post cut, the average scrap purchasing price of H2 grade scrap now remain in the range ¥ 29,000~ ¥ 30,500/ton.

The scrap purchasing prices at Okayama works in Western Japan were reduced by ¥ 1,000/ton to ¥ 29,000/ton and those in Kyushu works too dropped by ¥ 1,000/ton to ¥ 30,500/ton.

Tokyo Steel’s scrap purchasing prices in Tahara works in Central Japan were at ¥ 30,000/ton, while those in Takamatsu steel center were at ¥ 29,000/ton.

The scrap purchasing prices at Utsunomiya works in northern Kanto have now dropped by ¥ 1,000/ton to ¥ 30,500/ton.

The company had cut the scrap purchasing prices thrice prior this, during the month of October itself. Tokyo Steel had reduced the prices by ¥ 500/ton each on October 3^rd, 9^th and by ¥ 1,000/ton on October 15^th.