Tokyo Steel reverses course, cuts buying tags at all sites

Aug 29, 2012 | 09:52 AM | Sean Davidson

Tags  scrap, Tokyo Steel, buying prices, Sean Davidson

NEW YORK — Tokyo Steel Manufacturing Co. Ltd. has lowered its scrap buying prices, retreating from a string of hikes that began in mid-August.

Japan’s biggest mini-mill operator said Tuesday it would reduce prices by 1,000 yen ($12.75) per tonne at all of its locations.

Seaborne and land deliveries are now at 27,000 yen ($343) per tonne to Tokyo Steel’s Takamatsu Works, 28,000 yen ($356) per tonne to Tahara Works and 28,500 yen ($363) per tonne to Kyushu Works. Seaborne deliveries to Okayama Works are at 29,000 yen ($369) per tonne and land deliveries are at....

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