Reportedly, Japan's Tokyo Steel announced to cut the scrap purchasing prices further by JPY 500 per tonne at its four steelworks from September 26th 2012.

After the adjustment, its H2 scrap average prices are at JPY 24,000 to JPY 26,000 per tonne.

Among them, the H2 scrap purchasing p prices in Okayama plant is at JPY 25,500 to JPY 26,000 per tonne; that in Kyushu plant is at JPY 25,500 per tonne; that in Tahara plant is at JPY 25,000 per tonne; that in Utsunomiya plant is at JPY 25,000 per tonne and that in Takamatsu steel center is at JPY 24,000 per tonne.

Meanwhile, Tokyo Steel has reduced the scrap purchasing for consecutive six times since August 25th 2012 and the accumulative price cut has reached JPY 4,000 per tonne.

Source - www.yieh.com)

(www.steelguru.com)