Tokyo Steel lowers scrap buying prices on signs of overheating

Sep 24, 2013 | 07:12 PM |

Tags  Tokyo Steel Manufacturing, scrap buying prices, ferrous scrap, H2 scrap, heavy melt

TOKYO — Tokyo Steel Manufacturing Co. Ltd. has reduced its scrap purchasing prices for the first time since last month amid signs that prices were overheating.

Japan’s largest electric-arc furnace operator and effective benchmark price-setter has reduced buying prices to its main Utsunomiya plant by ¥1,000 ($10) per tonne, those to its Kyushu and Takamatsu facilities by ¥500 ($5) per tonne and left charges to its Tahara and Okayama Works....

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