TEX reported that Tokyo Steel Mfg Co has reduced what the company pays for locally available ferrous scrap by a uniform JPY 500 per tonne for all grades at its Okayama, Kyushu, Takamatsu and Utsunomiya works, effective with October 16th 2009 arrivals.

As a result, the new delivered prices of No 2 HMS are JPY 23,500 per tonne for seaborne and overland arrivals at the Okayama works, JPY 23,000 per tonne for seaborne and overland arrivals at the Kyushu works, JPY 22,500 per tonne for seaborne and overland arrivals at the Takamatsu works and JPY 21,500 per tonne for overland arrivals at the Utsunomiya works.

(Sourced from TEX Report Limited)