Prices have come down by around JPY 17000/MT (almost 50% drop) since end of March’20
Japan’s leading EAF mini-mill – Tokyo Steel has lowered its domestic ferrous scrap purchase price further at three of its works by JPY 500 (USD 5), while keeping its bids unchanged at the remaining two plants for now. The new prices for all grades shall be effective from tomorrow (28th Apr’20), as per the latest price circular released.
After the said price cut, the company will pay JPY 18,500 /MT (USD 173) for H2 scrap delivered at the Tahara plant in the central region, against JPY 19,000 earlier, while for Okayama plant and Takamatsu Steel Center the new price set at JPY 17,500/MT (USD 163) and JPY 16,500 /MT (USD 154) respectively.
For H2 delivered to Kyushu works in the western region, the price remained at JPY 17,500 /MT (USD 163), whereas for Utsunomiya works located in the Kanto region the price continued at JPY 18,500/MT (USD 173).
As per data maintained with SteelMint, the Japanese domestic scrap prices have come down by around JPY 2000/MT in the last one month, and have fallen sharply by almost 50% over the last 12 months, with Tokyo Steel’s bids for H2 falling from JPY 35,000/MT at end of March’19 to JPY 18,500/MT presently, for Tahara and Utsunomiya works, as slow finished steel demand in the country did not offer any support to the continuous free fall in scrap prices.
Tokyo Steel Ferrous Scrap Purchase Price from 28th April 2020
| Name of Work of Tokyo Steel | |||||
| Scrap Grade | Tahara Plant | Okayama Plant | Kyushu Factory | Utsunomiya Factory | Takamatsu Steel Center |
| Special Class (H2) | 18,500 | 17,500 | 17,500 | 18,500 | 16,500 |
| First Grade | 18,000 | 17,000 | 17,000 | 18,500 | 16,000 |
| Second Grade | 16,500 | 15,500 | 15,500 | 17,000 | 14,500 |
| New Breaking Press A | 20,500 | 18,500 | 19,000 | 20,500 | 17,500 |
| Shredder A | 20,000 | 18,000 | 18,000 | 19,000 | 17,000 |
| Shredder C | 19,500 | 17,500 | 17,500 | 18,500 | 16,500 |
Price in JPY
Source: Tokyo Steel Reports
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