Tokyo Steel cuts scrap purchase price for consecutive 12 times since August

Tokyo
Steel Manufacturing has cut its ferrous scrap purchasing prices by another JPY 500-1,000/MT
($6/MT) for all grades at all works effective from 6^th October,
Saturday.

This
is the consecutive 12 times reduction in the prices since August. With this
reduction, prices
for HMS 2 reach US$ 301-313/MT (JPY 23,500-24,500/MT).

Following are the current purchase price
(plant wise) for HMS 2 (Unit: JPY/MT):

Okayama: Seaborne: 24,500 ($313),
Overland: 24,000 ($307)

Kyushu: 24,000 ($307)

Takamatsu: 23,500 ($301)

Tahara: 23,500 ($301)

Utsunomiya: 23,500 ($301)

1 US$ = JPY 78.19