Tokyo steel cuts H2 scrap buying prices

TOKYO (Scrap Monster): The country’s top producer of H-beams- Tokyo Steel has announced a cut of ¥ 500/ton in scrap purchasing prices effective September 27^th, 2014. The company had earlier hiked its scrap purchasing prices on September 11^th, 13^th and 18^th. This is the first decline in scrap purchasing prices following the hikes.

Post cut, the average scrap purchasing price now remain in the range ¥ 32,500~ ¥ 34,000/ton.

The scrap purchasing prices at Okayama works in Western Japan were reduced by ¥ 500/ton to ¥ 32,500/ton and those in Kyushu works remained flat at ¥ 34,000/ton.

Tokyo Steel’s scrap purchasing prices in Tahara works in Central Japan were at ¥ 33,500/ton, while those in Takamatsu steel center were at ¥ 32,500/ton.

The scrap purchasing prices at Utsunomiya works in northern Kanto have now dropped by ¥ 500/ton to ¥ 34,000/ton.

The company had maintained the scrap purchasing prices mostly during the month of August.