November 20, 2008

Tokyo Steel increases scrap purchase prices

TEX reported that Japan's top electric steelmaker Tokyo Steel Mfg Co has increased what the company pays for locally available ferrous scrap by a uniform JPY 1,000 per tonne for all grades at the company's three West Japan works effective with July 15th 2008 purchases.

As a result, the new delivered prices of No2 HMS are JPY 72,000 per tonne for seaborne and overland arrivals at the Okayama works; JPY 71,000 per tonne for seaborne and overland arrivals at the Kyushu works and JPY 70,000 per tonne for seaborne and overland arrivals at the Takamatsu works.

Tokyo Steel's purchase prices of local ferrous scrap are unchanged this time at its Utsunomiya works in the Kanto area. The delivered price of No2 HMS is JPY 71,500 per tonne for overland arrivals.

(Sourced from TEX Report Ltd)