Tokyo Steel cuts ferrous scrap purchase price by another $6/MT

Tokyo Steel
Manufacturing Co, Japan's largest electric steelmaker has cut its scrap
purchase prices by another JPY 500/MT ($6/MT) for its all 5 plants, effective
from September 1.  

After the correction,
the purchase prices for HMS 2 reach US$ 338-364/MT (JPY 26,500-28,500/MT).

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

Okayama

Seaborne: 28,500
($364), Overland: 28,000 ($358)

Kyushu

Seaborne: 28,000 ($358), Overland: 28,000 ($358)

Takamatsu

Seaborne: 26,500 ($338), Overland: 26,500 ($338)

Tahara

Seaborne: 27,500 ($351), Overland: 27,500 ($351)

Utsunomiya

Seaborne: No Delivery, Overland: 27,500 ($351)

1 US$ = JPY 78.31