Tokyo Steel Reduces Ferrous Scrap Price by 1,000 Yen/t on Friday

Tokyo Steel, Japanese largest electric furnace steel maker announced on Thursday the firm reduces the purchase price of ferrous scrap by 1,000 yen per tonne at the all works on Friday. The purchase price becomes 36,500 yen per tonne at Okayama iron works, Kyusyu iron works and Utsunomiya iron works, 34,500 yen at Takamatsu iron works, and 36,500 yen at Tawara iron works for marine delivery and 37,500 yen for land delivery.

Aichi Steel decreased its purchase price of ferrous scrap by 500 yen per tonne on Thursday. The price became 30,400 yen for H2 grade. Otani Steel, another electric furnace steel maker also decreased the purchase price by 500 yen on Thursday. The firm reduced the price 5 times in May by total 4,000 yen per tonne.

Toyama works of Pacific Steel MFG, Japanese largest ferronickel maker, and Toyama works of Nippon Koshuha Steel, Japanese special steel maker, also decreased the purchase price by 500 yen. Komatsu Castex, Japanese major casting maker, Hokuetsu Metal and Mitsuboshi Kinzoku Kogyo, major electric furnace steel makers, reduced the price by 500 yen on Wednesday, too.