Tokyo Steel cuts scrap prices for second time in four days

Jan 13, 2014 | 10:33 AM |

Tags  Tokyo Steel Manufacturing, scrap buying prices, ferrous scrap, H2 scrap, Japan Ferrous Raw Materials Association

TOKYO — Tokyo Steel Manufacturing Co. Ltd. reduced its scrap buying prices again at the weekend, just four days after it made a similar across-the-board decrease.

Japan’s largest electric-arc furnace operator and effective benchmark price-setter cut buying prices at its main Utsunomiya plant by 500 yen ($5) per tonne effective Jan. 11. It was the fourth reduction at Utsunomiya—totaling 2,000 yen ($19) per tonne—since late 2013, when scrap prices hit their highest levels in more....

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