Tokyo Steel Manufacturing Co announced its September 1 decision to apply price reduction to all kinds of locally available ferrous scrap it purchases, effective with September 2 arrivals. Specifically, the reduction will be Y1,000/ton for all kinds for deliveries to the three works of Okayama, Kyushu and Takamatsu. For Utsunomiya alone, Y2,000/ton for turnings, with Y1,500/ton for all the remainder. The reduction by the Company takes place for the first time after June 24.|
As a result, new No. 2 HMS purchase prices will be Y25,000/ton delivered Okayama works (arrivals by land/sea), Y24,500/ton for Kyushu (ditto), Y23,000/ton (ditto) for Takamatsu, and Y24,000/ton for Utsunomiya .