Japan’s Tokyo Steel reduces scrap buying prices further

Sep 10, 2012 | 09:56 AM |

Tags  Tokyo Steel Manufacturing, scrap buying prices, scrap prices, ferrous scrap

TOKYO — Tokyo Steel Manufacturing Co. Ltd. has cut its ferrous scrap buying prices for the fifth time in two weeks, taking back all of last month’s price increases.

Tokyo Steel, Japan’s largest electric furnace operator and the country’s benchmark price-setter, has cut its purchase prices for all deliveries to its five works by an additional 500 yen ($6.40) per tonne amid a continued weakening in global scrap and other raw material prices.....

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