Japan's largest electric steelmaker Tokyo Steel Mfg Co reduced what the company pays for locally available ferrous scrap by a uniform JPY 500 per tonne from May 15 for all grades of seaborne and overland arrivals at its Kyushu works and for all grades of seaborne arrivals at its Tahara works.
As a result, the new delivered prices of No2 HMS are JPY 38,500 per tonne for seaborne and overland arrivals at the Kyushu works and JPY 38,500 per tonne for seaborne arrivals at the Tahara works. At the Tahara works, the delivered price of No2 HMS is unchanged at JPY 39,500 per tonne for overland arrivals.
Tokyo Steel's purchase prices of local ferrous scrap remain unchanged at its three other works. The delivered prices of No2 HMS are JPY 38,500 per tonne for seaborne and overland arrivals at the Okayama works; JPY 36,500 per tonne for seaborne and overland arrivals at the Takamatsu works and JPY 38,500 per tonne for overland arrivals at the Utsunomiya works.