TOKYO Tokyo Steel
Manufacturing Co. Ltd. has again cut its scrap purchasing
prices in a weakening market.
The company reduced truck- and
seaborne ferrous scrap buying prices by 500 yen ($5) per tonne
for deliveries to its Tahara, Kysuhu, Okayama and Takamatsu
facilities effective April 20.
Delivery prices to its main
facility in Utsunomiya, Japan, were unchanged.
As a result, Japans
largest mini-mill operator is now paying 33,000 yen ($332) per
tonne for deliveries to Tahara and Utsunomiya, 32,000 yen
($322) per tonne for those to its Kyushu and Okayama plants and
31,000 yen ($312) per tonne for those to its Takamatsu service
The latest move brings this
months total cuts for deliveries to Tahara and Utsunomiya
to 2,000 yen ($20) per tonne, or about 6 percent; and 2,500 yen
($25) per tonne, or more than 7 percent, for deliveries to the
Tokyo-based companys other plants.
Meanwhile, the national average
price of H2-grade scrap stood at 32,286 yen ($325) per tonne in
the third week of April, marking the second consecutive week of
Prices are expected to continue
falling in the short term as the country heads into the Golden
Week national holiday.
Scrap prices have jumped by as much as 50 percent over the
past five months after the weakening yen led to a large
increase in export prices.