Japan’s leading EAF mini-mill – Tokyo Steel has continued to increase its domestic scrap purchase price by JPY 1000/MT (USD 9) at four of its works while keeping bids unchanged for the Tahara plant, amid a continuous price uptrend in the last 3 weeks on low scrap generation and tight supply in Japan. New prices for all grades shall be effective from tomorrow (11th June’20), as per the new price circular released.
After this price revision, currently the highest bid for H2 scrap delivery to the Utsunomiya plant in the Kanto region and Kyushu factory set at JPY 25,500/MT (USD 238) and JPY 24,000/MT (USD 224) respectively. Notably, around JPY 4,500/MT (USD 42) has been increased in totaled in Utsunomiya works in just 10 days, as per price maintained with SteelMint.
For H2 scrap delivery to the Okayama plant and Takamatsu steel center have now risen to JPY 23,000/MT (USD 214) and JPY 22,500/MT (USD 210) respectively, while keeping bids unchanged for Tahara plant in Central Japan at JPY 24,500 /MT (USD 228).
It has been reported that due to slowdown in auto industry in Japan, scrap generation has been impacted, and in spite of the demand not improving very significantly, the low availability and tight supply has ensured that the prices have been moving up swiftly and will continue to do so in the near term.
Tokyo Steel’s Bids For Scrap Purchase from 11th June’2020
| Name of Work of Tokyo Steel | |||||
| Scrap Grade | Tahara Plant | Okayama Plant | Kyushu Factory | Utsunomiya Factory | Takamatsu Steel Center |
| Special Class (H2) | 24,500 | 23,000 | 24,000 | 25,500 | 22,500 |
| First Grade | 24,000 | 22,500 | 24,000 | 25,500 | 22,000 |
| Second Grade | 22,500 | 21,000 | 22,500 | 24,000 | 20,500 |
| New Breaking Press A | 27,000 | 24,000 | 26,000 | 24,500 | 23,500 |
| Shredder A | 26,000 | 23,500 | 25,000 | 26,000 | 23,000 |
| Shredder C | 25,500 | 23,000 | 24,500 | 25,500 | 22,500 |
Price in JPY
Source: Tokyo Steel Reports
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