It is reported that Tokyo Steel Mfg Co has reduced what the company pays for locally available ferrous scrap by a uniform JPY 500 per tonne for all grades at its 4 works, effective with December 13th 2008 purchases.

As a result, the new delivered prices of number 2 HMS are JPY 18,000 per tonne for seaborne and overland arrivals at the Okayama works, JPY 18,000 per tonne for seaborne and overland arrivals at the Kyushu works, JPY 17,000 per tonne for seaborne and overland arrivals at the Takamatsu works and JPY 17,500 per ton for overland arrivals at the Utsunomiya works.