Accelerated Fall In Local Scrap Prices After Tokyo Steel's Price Cut

摘要

Japan's domestic market prices for locally available ferrous scrap show an accelerated fall after a Dec 23 purchase price reduction of Y500/ton by pricing leader Tokyo Steel Mfg Co, the nation's top electric steelmaker. In the Kanto area, several electric steelmakers held down their purchase prices of local ferrous scrap by Y500/ ton each from Dec 23 in reaction to what Tokyo Steel executed then. Among those steelmakers are Asahi Industries Co, JFE Bars & Shapes Co, Jonan Steel Works, Daisan Steel Co, and Mukoyama Steel Works.