Tokyo Steel cuts scrap purchase prices further by $ 6/MT

Japanese Tokyo Steel
has cut the scrap purchase prices further by US$ 6/MT (JPY 500/MT) at its all
five plants on April 14th, 2012. Prices have touched a 2 month low to reach US$ 385-415/MT i.e. JPY 31,500-34,000/MT.

Meanwhile, company has
cut the prices 3^rd time in this month of April with a total amount
of US$ 18/MT (JPY 1,500/MT)

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

Okayama: 33,500-34,000

Kyushu: 33,500-34,000

Takamatsu: 31,500

Tahara: 34,000

Utsunomiya: 33,000