TEX reported that Japan's largest electric steelmaker Tokyo Steel Mfg Co has reduced what the company pays for locally available ferrous scrap by JPY 1,000 to JPY 1,500 per tonne at its four works, effective with September 29th 2009 arrivals.

A price reduction of JPY 1,500 per tonne applies to all grades of seaborne arrivals at the Okayama works and to all grades of overland arrivals at the Utsunomiya works. Another price reduction of JPY 1,000 per tonne applies to all grades of overland arrivals at the Okayama works, and to all grades of seaborne and overland arrivals at the Kyushu and Takamatsu works.

As a result, the new delivered prices of number 2 HMS are JPY 28,500 per tonne for seaborne arrivals and JPY 28,000 per tonne for overland arrivals at the Okayama works, JPY 27,500 per tonne for seaborne and overland arrivals at the Kyushu works, JPY 27,000 per tonne for seaborne and overland arrivals at the Takamatsu works and JPY 27,000 per tonne for overland arrivals at the Utsunomiya works.

(Sourced from TEX Report Limited)