Tokyo Steel Scrap purchase Prices plunged again by over $15/MT

Tokyo Steel
Manufacturing Co, Japan's
largest electric steelmaker, has decreased their scrap purchase prices again by US$ 13 – 19/MT
(JPY 1,000-1,500/MT) at its all 5 plants, effective from May 29.

Meanwhile, the co's average purchase prices of local
ferrous scrap remain at JPY 30,500/MT. Following are the current purchase price
(plant wise) for HMS 2 (Unit: JPY/MT):

Okayama: 30,500 (US$ 384 – 385/MT)

Kyushu: 30,500 – 31,000 (US$ 384 – 391/MT )

Takamatsu: 28,500 (US$ 359/MT)

Tahara: 30,500 (US$ 384 – 385/MT)

Utsunomiya: 30,000 (US$ 378/MT)

1 US$ = JPY 79.37