Tokyo Steel lifts scrap purchasing price

Nov 08, 2012 | 01:02 PM |

Tags  ferrous scrap, scrap buying prices, Tokyo Steel Manufacturing, electric-arc furnace steelmaker

TOKYO — Tokyo Steel Manufacturing Co. Ltd. has raised the scrap purchasing price at one of its plants by 1,000 yen ($12.50) per tonne, suggesting that Japanese scrap prices might finally have bottomed out after falling to multiyear lows over the past few months.

Although the increase only affects deliveries to the company’s Utsunomiya plant north of Tokyo, it is the steelmaker’s first scrap price increase since late August. ....





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