As per the new price circular released, Japan’s leading EAF mini-mill – Tokyo Steel has hiked its scrap purchase bids by JPY 500-1000/MT (USD 5-9) at all of its 5 works. This is the third successive price hike of this month and the new prices for all grades shall be effective from tomorrow (12th Dec’19).
After the said price hike, the company will now pay JPY 25,000 /MT (USD 230) for H2 scrap delivered at Tahara plant in the central region, Kyushu works in the western region and Utsunomiya works located in the Kanto region. For H2 scrap delivered to Okayama plant and Takamatsu Steel Center, the prices will be JPY 23,500/MT (USD 216) and JPY 22,500/MT (USD 207) levels respectively.
Notably, scrap purchase price hike is by JPY 1000/MT (USD 9) for two of works at Okayama Plant & Takamtsu steel center, whereas the remaining three of its works hiked its purchase price by JPY 500/MT (USD 4).
Meanwhile, Japan’s monthly Kanto tender result for Dec’19 concluded today, in which a total of 23,000 MT of Japanese H2 scrap was awarded at an average of JPY 25,804/MT (USD 237), FAS, witnessing a significant rise JPY 1,497/MT (USD 14) in the winning bids on a monthly basis.
Tokyo Steel’s Bids For Scrap Purchase from 12th Dec’19
| Name of Work of Tokyo Steel | |||||
| Scrap Grade | Tahara Plant | Okayama Plant | Kyushu Factory | Utsunomiya Factory | Takamatsu Steel Center |
| Special Class (H2) | 25,000 | 23,500 | 25,000 | 25,000 | 22,500 |
| First Grade | 24,500 | 23,000 | 24,500 | 25,000 | 22,000 |
| Second Grade | 23,000 | 21,500 | 23,000 | 23,500 | 20,500 |
| New Breaking Press A | 27,500 | 25,000 | 27,000 | 27,000 | 24,000 |
| Shredder A | 26,500 | 24,000 | 25,500 | 25,500 | 23,000 |
| Shredder C | 26,000 | 23,500 | 25,000 | 25,000 | 22,500 |
Prices in JPY/MT,
Source: Tokyo Steel Reports
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