The company has raised scrap purchase price by JPY 500/MT (USD 5).
Japan’s leading EAF mill – Tokyo Steel has hiked its domestic scrap purchase bids by JPY 500/MT (USD 5) at all of its 5 works. The said price hike comes after 8 months of the continuous downtrend in prices during which the bids came down successively by a total of JPY 12,000-13,000/MT. New prices for all grades shall be effective from tomorrow (14th Nov’19).
After the price hike, the company will pay JPY 22,500 /MT (USD 207) for H2 scrap delivered at Tahara plant in central region while JPY 21,500 /MT (USD197) for Okayama plant. For H2 delivered to Kyushu works in the western region, Utsunomiya works located in the Kanto region and Takamatsu Steel Center the new price will be JPY 23,500/MT (USD 216), JPY 23,000/MT (USD 211) and JPY 20,000/MT (USD184) levels respectively.
After the sharp rebound in the monthly Kanto Tender’s result yesterday indicated a wide gap between export offers and domestic prices of Japanese scrap, it was widely expected that the major steelmakers like Tokyo Steel would significantly raise their bids.
| Name of Work of Tokyo Steel | |||||
| Scrap Grade | Tahara Plant | Okayama Plant | Kyushu Factory | Utsunomiya Factory | Takamatsu Steel Center |
| Special Class (H2) | 22,500 | 21,000 | 23,500 | 23,000 | 20,000 |
| First Grade | 22,000 | 20,500 | 23,000 | 23,000 | 19,500 |
| Second Grade | 20,500 | 19,000 | 21,500 | 21,500 | 18,000 |
| New Breaking Press A | 24,000 | 22,500 | 25,500 | 25,000 | 21,500 |
| Shredder A | 24,000 | 21,500 | 24,000 | 23,500 | 20,500 |
| Shredder C | 23,500 | 21,000 | 23,500 | 23,000 | 20,000 |
Prices in JPY/MT,
Source: Tokyo Steel Reports
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