Ferrous Scrap Purchase by Tokyo Steel decrease less 30,000yen/T

Tokyo Steel Manufacturing, Japanese biggest electric furnace maker reduced the purchase price of ferrous scrap by 3,000 yen per tonne for all grade at all works from Thursday.

The purchase price is 32,000 yen per tonne for indicated grade ferrous scrap after revision at Okayama works and Kyushu works from transport by land and by sea. The price at Takamatsu works is 30,000 yen per tonne from transport by land and by sea while at Utsunomiya works is 32,000 per tonne from by land.

Ferrous scrap purchase prices by electric furnace steel makers would decrease less than 30,000 yen per tonne for indicated H2 grade around Tokyo. Electric furnaces would follow the price reduction by Tokyo Steel Manufacturing from Thursday. The Price fell below 30,000 yen per tonne for the first time from January 2007.