After the continuous rises in past few weeks, Tokyo Steel announced to decrease the purchase prices of H2 scrap by ￥1,000/ton averagely to ￥39,000~￥41,000/ton on April 26th, considering to the current scrap market situation.
In fact, Tokyo Steel increased the scrap prices for several times previously as the scrap collection was difficult in Japan and buyers rushed to purchase for stockpile before Japan’s long vacation in May.
However, industry sources pointed out that Tokyo Steel’s new scrap prices were still higher than the current market prices of ￥39,000/ton. Thus, it’s predicted that Tokyo Steel would cut the scrap prices further to meet the actual market situation in the near future.
( source: www.yieh.com )