Tokyo Steel increases scrap tags after two-month pause

Aug 20, 2012 | 10:34 AM | None

Tags  ferrous scrap, Tokyo Steel

TOKYO — Tokyo Steel Manufacturing Co. Ltd. has lifted its scrap purchase prices by 1,500 to 2,000 yen ($19 to $25) per tonne in its first price adjustment since June 16.

While the market had been waiting for domestic prices to move higher in line with the rebound in international scrap prices, traders had been expecting Tokyo Steel to make its move this week following the country’s annual Obon summer break.....

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