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 Okayama, Kyushu, Takamatsu and Utsunomiya works, effective with October 1st 2009 arrivals.

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

As a result, the new delivered prices of number HMS are JPY 27,000 per tonne for seaborne and overland arrivals at the Okayama works, JPY 26,500 per tonne for seaborne and overland arrivals at the Kyushu works, JPY 26,000 per tonne for seaborne and overland arrivals at the Takamatsu works and JPY 26,000 per tonne for overland arrivals at the Utsunomiya works.

(Sourced from TEX Report Limited)