Japan’s leading EAF mini-mill, Tokyo Steel has lowered its scrap purchase price further by JPY 1000/MT (USD 9) at all of its 5 works, as per the latest price circular. This is the fifth consecutive price cuts since the beginning of the Feb’20. The new prices for all grades shall be effective from tomorrow (13th Feb’20).
After the said price cut, the company will pay JPY 20,500/MT (USD 187) for H2 scrap delivered to its Tahara plant in the central region, while the revised price for H2 delivery to Utsunomiya plant in the Kanto region and Kyushu works in the western region is JPY 20000/MT (USD 182). For H2 delivered to Okayama plant and Takamatsu Steel Center, the price will be JPY 19000/MT (USD 173) and JPY 18000/MT (USD 164) respectively.
The price revision comes immediately after the latest Kanto tender result for Feb’20announced earlier today, wherein a total of 25,200 MT of Japanese H2 scrap was awarded at an average price of JPY 22,751 /MT (USD 207), FAS, as compared to JPY 26,667/MT (USD 243) in Jan’20, witnessing a sharp drop of JPY 3916/MT (USD 36) on a monthly basis.
Tokyo Steel’s Bids For Scrap Purchase from 13th Feb’2020
| Name of Work of Tokyo Steel | |||||
| Scrap Grade | Tahara Plant | Okayama Plant | Kyushu Factory | Utsunomiya Factory | Takamatsu Steel Center |
| Special Class (H2) | 20,500 | 19,000 | 20,000 | 20,000 | 18,000 |
| First Grade | 20,000 | 18,500 | 19,500 | 20,000 | 17,500 |
| Second Grade | 18,500 | 17,000 | 18,000 | 18,500 | 16,000 |
| New Breaking Press A | 22,500 | 20,000 | 21,500 | 22,000 | 19,000 |
| Shredder A | 22,000 | 19,500 | 20,500 | 20,500 | 18,500 |
| Shredder C | 21,500 | 19,000 | 20,000 | 20,000 | 18,000 |
Price in JPY
Source: Tokyo Steel Reports
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