Japan’s leading EAF mini-mill – Tokyo Steel has decreased its domestic scrap purchase price by JPY 500/t ($ 5) at Utsunomiya plant while keeping bids unchanged for the other four works. This is the first price cut since late May’20 and the new prices for all grades shall be effective from tomorrow (25th June’20), as per the new price circular released.
After this price revision, the new bid for H2 scrap delivery to the Utsunomiya plant in the Kanto region set at JPY 26,000/t ($ 244), while Tahara plant in central Japan and Okayama plant remain unchanged at JPY 25000/t and JPY 24500/t respectively. Similarly, bids for H2 scrap delivery to the Kyushu factory and Takamatsu steel center rest at JPY 25,000/t and JPY 23,500/t respectively.
Interestingly, the Japanese domestic scrap bids declined just after Japanese export offers to South Korea moved down sharply in recently concluded deals. Following a global price trend and a wide gap between the local and export prices, it is expected that domestic prices may continue to decrease further in the coming days.
Tokyo Steel’s bids for scrap purchase from 24th June’2020
| Name of Work of Tokyo Steel | |||||
| Scrap Grade | Tahara Plant | Okayama Plant | Kyushu Factory | Utsunomiya Factory | Takamatsu Steel Center |
| Special Class (H2) | 25,000 | 24,500 | 25,000 | 26,000 | 23,500 |
| First Grade | 24,500 | 24,000 | 24,500 | 26,000 | 23,000 |
| Second Grade | 23,000 | 22,500 | 23,000 | 24,500 | 21,500 |
| New Breaking Press A | 28,000 | 25,500 | 26,500 | 28,000 | 24,500 |
| Shredder A | 26,500 | 25,000 | 25,000 | 26,500 | 23,500 |
| Shredder C | 26,000 | 24,500 | 25,000 | 26,000 | 23,500 |
Price in JPY
Source: Tokyo Steel Reports
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