Tokyo Steel cuts scrap charges to most works by $5 per tonne

Tokyo Steel has further reduced its scrap purchase charges for deliveries to four of its works.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

Japan's largest electric arc furnace operator and de-facto benchmark price-setter cut charges to its Tahara, Kyushu and Okayama production units as well as those to its Takamatsu service centre by ¥500 ($5) per tonne, effective February 15 deliveries.

However, it left delivery charges to its main Utsunomiya plant unchanged.

As a result, it is now paying ¥36,000 ($353) per tonne for both seaborne and overland deliveries to Utsunomiya and Kyushu; ¥35,500 ($349) per tonne for deliveries to Tahara and Okayama; and ¥34,500 ($339) per tonne for those to Takamatsu.

The reduction in its charges – the sixth so far this year – came after a drop at the latest export tender held on February 13 by the Kanto Tetsugen, which brings together Tokyo-area dealers, where prices dropped by ¥2,350 ($23) per tonne from the previous month's auction to ¥32,995 ($324) per tonne fas for H2-grade scrap.

Recent Base Metals News

Editor's pick