It's reported that Tokyo Steel continues decreasing scrap purchasing prices
Reportedly, Japan's Tokyo Steel announced to cut the scrap purchasing prices further by ￥500/ton at its four steelworks from October 6th.
After the adjustment, its H2 scrap average prices are at ￥22,500~￥24,500/ton.
Among them, the H2 scrap purchasing p prices in Okayama plant is at ￥24,000~￥24,500/ton; that in Kyushu plant is at ￥24,000/ton; that in Tahara plant is at ￥23,500/ton; that in Utsunomiya plant is at ￥23,500/ton and that in Takamatsu steel center is at ￥22,500/ton.
Meanwhile, Tokyo Steel has reduced the scrap purchasing for consecutive six times since August 25th and the accumulative price cut has reached ￥5,500/ton.