Japan’s leading EAF steel mini-mill – Tokyo Steel has announced price cut in its scrap purchase price. As per new price circular released, the steel manufacturer has cut prices by JPY 500/MT (USD 5) at its Utsunomiya plant against last set of prices. However, prices remain unchanged at other four plants and revised prices shall be effective from tomorrow i.e. 01 Sept’18.
Tokyo Steel fetches H2 scrap at JPY 37,500/MT (USD 338) for its Kanto region based works i.e. Utsunomiya and at JPY 36,500/MT for largest works in central Japan-Tahara. Bids for the same grade is at JPY 36,500/MT levels at Kyushu plant and JPY 35,500/MT at Okayama works in Western Japan while for its Takamatsu steel center company kept bids at JPY 35,000/MT in Southern Japan.
The steelmaker has witnessed first price cut in last two and half months period at its Utsumnomiya plant, as earlier to this it recorded price cut on 15th June.
Tokyo Steel’s scrap purchase prices effective from 01 Sept’18 –
| Scrap Grade | Name of Work of Tokyo Steel | ||||
| Tahara Plant | Okayama Plant | Kyushu Factory | Utsunomiya Factory | Takamatsu Steel Center | |
| Special Class | 36,500 | 35,500 | 36,500 | 37,500 | 35,000 |
| First Grade | 36,000 | 35,000 | 36,000 | 37,500 | 34,500 |
| Second Grade | 34,500 | 33,500 | 34,500 | 36,000 | 33,000 |
| New Cutting Press A | 41,500 | 37,500 | 38,500 | 41,000 | 37,000 |
| Shredder A | 37,000 | 36,000 | 37,000 | 38,000 | 35,500 |
| Shredder C | 36,500 | 35,500 | 36,500 | 37,500 | 35,000 |
Prices in Japanese Yen/MT for transport on land
Source: Tokyo Steel Reports
Hyundai Steel negotiates for Japanese high grade scrap – South Korean steel mill – Hyundai Steel has changed its method of Japanese scrap buying to negotiating individually rather than bidding for it. As per Steel Daily report, it has contracted for 20,000 MT premium steel scrap in spot market. The steelmaker has skipped bids due to disparity between price expectation of Japanese scrap supplier and bidding levels. Hyundai Steel seems not interested in buying H2 at current levels of JPY 35,500/MT (USD 320), FoB. While last HS grade contract prices assessed at JPY 40,500/MT (USD 366),FoB Japan.
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