TEX reported that Japan's largest electric steelmaker Tokyo Steel Mfg Co has increased what the company pays for locally available ferrous scrap by JPY 500 to JPY 1,000 per tonne for all grades at its five works, effective with December 14th 2011 arrivals.

A price increase of JPY 500 per tonne applies to seaborne overland arrivals at the Kyushu works. A second price increase of JPY 1,000 per tonne applies to seaborne overland arrivals at the Okayama, Takamatsu and Tahara works. A third price increase of JPY 1,000 per tonne applies to overland arrivals at the Utsunomiya works.

As a result, the new delivered prices of No2 HMS are JPY 32,500 per tonne for seaborne arrivals and JPY 31,500 per tonne for overland arrivals at the Okayama works; JPY 34,000 per tonne for seaborne arrivals and JPY 33,000 per tonne for overland arrivals at the Kyushu works; JPY 30,500 per tonne for seaborne overland arrivals at the Takamatsu works; JPY 31,500 per tonne for seaborne overland arrivals at the Tahara works and JPY 32,500 per tonne for overland arrivals at the Utsunomiya works.

(Sourced from TEX Report Limited)