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| Tokyo Steel Cuts Scrap Purchase Prices By Y1,500-2,000 At Four Works |
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Intakes Of Seaborne Arrivals Stopping At Okayama Works From Oct 28 Japan's largest electric steelmaker Tokyo Steel Mfg Co has reduced what the company pays for locally available ferrous scrap by Y1,500-2,000/ton at its four works, effective with Oct 28 purchases. A price reduction of Y2,000/ton applies to all grades of arrivals at the Okayama and Kyushu works. Another price reduction of Y1,500/ton applies to all grades of arrivals at the Takamatsu and Utsunomiya works. As a result, the new delivered prices of No2 HMS are Y16,500/ton for seaborne and overland arrivals at the Okayama works; Y16,500/ton for seaborne and overland arrivals at the Kyushu works; Y15,500/ton for seaborne and overland arrivals at the Takamatsu works; and Y15,000/ton for overland arrivals at the Utsunomiya works. Meanwhile, Tokyo Steel is contemplating limiting intakes of local ferrous scrap to overland arrivals at the Okayama works from Oct 28 while stopping intakes of seaborne arrivals there for a while. In the background are factors such as favorable overland arrivals at the Okayama works and the need to secure a space there for an import arrival of US ferrous scrap, according to market sources. |
| last modified : Fri 31 Oct, 2008 [10:23] |
