Japan’s leading EAF mini-mill, Tokyo Steel has further lowered its scrap purchase price by JPY 500/MT (USD 5) at its Kyushu works, while keeping its bids unchanged for the remaining four works, as per the latest price circular.
The new prices for all grades shall be effective from today (12th March’20). This is the fourth successive price cut observed by the company in Mar’20, as price lowered at its Kyushu works has now been lowered by JPY 2000/MT in just over 2 weeks.
After the said price cut, the company will pay JPY 18,000/MT (USD 175) for H2 scrap delivered to its Kyushu works in the western region.
For H2 scrap delivered to Tahara plant in the central region, Utsunomiya works located in the Kanto region, Okayama plant and Takamatsu Steel Center the prices remain unchanged at JPY 20,500/MT (USD 194), JPY 19,500/MT (USD 186), JPY 19,000/ MT (USD 179) and JPY 18,000/MT (USD 170) levels respectively.
Yesterday, Japan’s Kanto export tender for Mar’20 was concluded, witnessing a marginal decline in the winning bid as compared to sharp drop in the previous month. A total of 30,000 MT of Japanese H2 scrap was awarded at an average price of JPY 22,655/MT (USD 217), FAS, as compared to JPY 22,751/MT (USD 218) in Feb’20, marginally down by JPY 96 (USD 1) against Feb’20.
Tokyo Steel’s Bids For Scrap Purchase from 12th Mar’20
| 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 | 18,000 | 19,500 | 18,000 |
| First Grade | 20,000 | 18,500 | 17,500 | 19,500 | 17,500 |
| Second Grade | 18,500 | 17,000 | 16,000 | 18,000 | 16,000 |
| New Breaking Press A | 22,500 | 20,000 | 19,500 | 21,500 | 19,000 |
| Shredder A | 22,000 | 19,500 | 18,500 | 20,000 | 18,500 |
| Shredder C | 21,500 | 19,000 | 18,000 | 19,500 | 18,000 |
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