Tokyo Steel cuts ferrous scrap purchase prices

Apr 03, 2013 | 12:20 PM |

Tags  Tokyo Steel, ferrous scrap prices, ferrous scrap buying prices, Hyundai Steel, Posco

TOKYO — Tokyo Steel Manufacturing Co. Ltd. has cut its ferrous scrap purchase prices for the first time since late October, confirming signs of a weakening price trend.

Japan’s largest mini-mill operator and effective benchmark price-setter has reduced its buying prices for deliveries of all grades of scrap to its Tahara plant by 500 yen ($5.50) per tonne and deliveries to its other four works by 1,000 yen ($11) per tonne.....

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