Tokyo Steel lifts its scrap buying prices by $3.4/t

Tokyo Steel Manufacturing, Japan's leading electric-arc-furnace steel producer, has decided to lift its scrap buying prices by Yen 500/tonne ($3.4/t) effective from October 19 arrivals at all works and scrap yards across Japan, the company announced on late Tuesday.

Tokyo Steel's latest adjustment was made after the company had trimmed its scrap buying prices by Yen 1,500-2,500/t over September 22-October 6, Mysteel Global learned. With the price increment, Tokyo Steel's H2 buying price at Utsunomiya Works in northern Tokyo, for example, has become Yen 50,000/t, and that for Shindachi