Tokyo steel hikes H2 scrap buying prices for third time in a week

TOKYO (Scrap Monster): The country’s top producer of H-beams- Tokyo Steel has announced a further hike of ¥ 500/ton in scrap purchasing prices effective September 18^th, 2014. The company had earlier hiked its scrap purchasing prices on September 11^th and 13^th. This is the third consecutive hike in scrap purchasing prices in less than a week.

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

The scrap purchasing prices at Okayama works in Western Japan were at ¥ 33,000/ton and those in Kyushu works increased by ¥ 500/ton to ¥ 34,000/ton.

Tokyo Steel’s scrap purchasing prices in Tahara works in Central Japan were at ¥ 34,000/ton, while those in Takamatsu steel center were at ¥ 32,500/ton.

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

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