Tokyo Steel Raises Ferrous Scrap Purchase Price

Tokyo Steel Manufacturing increases ferrous scrap purchase price by 1,000 yen per tonne at Okayama, Kyushu and Takamatsu plants on Thursday. The firm also increases the price by 500 yen at Tahara plant. The firm increased the price for the first time since April 20.The firm leaves the price unchanged at Utsunomiya plant.

The new purchase price for H2 grade is 37,000 yen at Okayama plant, 37,500 yen at Kyushu plant, 35,000 yen at Takamatsu plant and 37,500 yen for land transport to Tahara plant and 37,000 yen for ocean transport to the plant.

The dealers’ scrap purchase price was 28,000 yen per tonne for H2 grade including freight around Tokyo on Wednesday. Local ferrous scrap generation remains low. The dealer source sees ferrous scrap supply would not increase even if the dealers increase the purchase price.