After raising prices at all its works on 02nd Nov the Japanese steel maker – Tokyo Steel has raised scrap purchase prices further by USD 4-9/MT at all its works today consecutively second time in a week’s time.
Japan’s leading EAF steel producer Tokyo Steel Manufacturing has increased its scrap buying prices further by JPY 500-1000/MT (USD 4-9) at all works of the company. The bid prices raised by JPY 1000 (USD 9) at Tahara and Utsunomiya works moreover by JPY 500 at Okayama, Kyushu and Takamatsu Steel Centre respectively.
As per latest price circular, new prices would be effective from tomorrow (i.e. 08th Nov’17) for all grades of scrap at all its five works of the company in Japan. In which H2 scrap bid prices also have increased by Yen 500-1000/MT (USD 4-9/MT).
After witnessing successive downtrend in its domestic scrap purchase prices since last week of Sept’17, the steel maker has now registered Third consecutive rise in last two weeks’ time.
Now H2 scrap fetches JPY 34,000/MT (USD 298) at largest work in central Japan-Tahara. While the same grade fetches JPY 33,000/MT (USD 289) at Utsunomiya works in north Japan, JPY 32,000/MT (USD 280) at Okayama and Kyushu works in west Japan respectively. For its Takamatsu Steel Center company keeps bids at JPY 31,500/MT (USD 276).
Prior to this, the company lifted its buying prices for all grades of ferrous scrap at all works on 02nd Nov in which prices were lifted by JPY 1000-1500 at Tahara works and by JPY 1000 at Utsunomiya works. Domestic scrap purchase prices were lifted by JPY 500 at Okayama, Kyushu and Takamatsu steel Center in its last price revision.
Japanese H2 scrap reference prices now hiked to JPY 31,400/MT (USD 272), FoB Japan while for New Cutting (Press) scrap to JPY 33,900/MT (USD 297), FoB Japan. These prices increased by USD 5-7/MT on W-o-W basis.
This price revision would have done in order to strike a balance between local supply and high demand over ongoing peak season for construction activities in Japan. Now, most of the market participants are eyeing towards ‘Kanto Tetsugen’ monthly ferrous scrap export tender concludes in the second week of every month in Kanto region, Japan.-a source shared.
Tokyo Steel’s scrap purchase prices with effective from 08 Nov’17 –
| Scrap Grade | Name of Work of Tokyo Steel | ||||
| Tahara Plant | Okayama Plant | Kyushu Factory | Utsunomiya Factory | Takamatsu Steel Center | |
| Special Class | 34,000 | 32,000 | 32,000 | 33,000 | 31,500 |
| First Grade | 33,500 | 31,500 | 31,500 | 33,000 | 31,000 |
| Second Grade | 32,000 | 30,000 | 30,000 | 31,500 | 29,500 |
| New Cutting Press A | 37,500 | 34,000 | 34,000 | 34,500 | 33,500 |
| Shredder A | 34,500 | 32,500 | 32,500 | 33,500 | 32,000 |
| Shredder C | 34,000 | 32,000 | 32,000 | 33,000 | 31,500 |
Prices in Japanese Yen/MT for transport on land (Exchange Rate USD 1 = JPY 114.13)
Source: Tokyo Steel Reports
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