Tokyo Steel Cuts Ferrous Scrap Purchase Price

Tokyo Steel Manufacturing announced on Monday the firm reduces ferrous scrap purchase price on Tuesday. The firm reduces the price by 1,000 yen per tonne to decreases by 1,000 yen per tonne for land transport to Okayama plant, land and ocean transport to Kyushu plant, land and ocean transport to Takamatsu plant and by 1,500 yen for ocean transport to Okayama and land transport to Utsunomiya plant. The price for H2 grade is 28,500 yen for ocean transport to Okayama, 28,000 yen for land transport to Okayama, 27,500 yen for Kyushu and Takamatsu and Utsunomiya plants.

Ferrous scrap price is around 21,000 yen per tonne for H2 grade at the dealers purchase price including freight while the price is around 22,800 yen for H1 grade and around 24,500 yen for HS grade. The purchase price by local electric furnace steel makers is 27,500-28,500 yen for H2 grade, down by 1,000 yen per tonne from previous week.

The purchase price by the dealers decreased by 1,000 yen per tonne until Monday compared with the previous week when local electric furnace steels reduced the purchase price due to the stagnation in scrap export. However, dealer sources see that scrap supply is not so loose when scrap generation stays at low level.