Japan’s leading EAF steel manufacturer- Tokyo Steel has announced another price hike for its scrap purchase prices for three of its facilities. It has raised bids by JPY 500/t ($5) for Tahara plant, Kyushu works and Utsunomiya works. Revised prices will be effective from tomorrow, 8th Aug ’20. Notably, the company has kept its bid prices unchanged for Okayama and Takamatsu.
As per the said price hike, the company will pay JPY 23,000/t ($ 217) for H2 scrap delivered to Tahara plant, JPY 24,000/t ($ 227) for Kyushu works and JPY 23,500/t ($ 222) for the Utsunomiya works in Kanto region.
Meanwhile, prices remain unchanged for the other two works, and the company will continue to pay JPY 23,000/t, and JPY 22,000/t for H2 scrap delivered to Okayama plant and Takamatsu steel centre respectively.
Tokyo Steel‘s bids for scrap purchase from 8th Aug’ 20
Price in JPY
Source: Tokyo Steel report
Japanese scrap export offers continued to increase this week. SteelMint’s assessment for H2 scrap export stands in the range of JPY 25,000-26,000/t FoB basis, up by JPY 750/t against last week. Kanto Tetsugen’s monthly scrap export tender is scheduled on 19th Aug ’20, due to the upcoming summer holidays this month till mid Aug ’20, sources shared. Trading activities are likely to slow down in Japan ahead holidays, sources added.
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