After raising prices at its Tahara work on 27th Oct the Japanese steel maker – Tokyo Steel has raised scrap purchase prices further by USD 9-13/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 1000-1500/MT (USD 9-13) at Tahara works of the company. While bid prices raised by JPY 1000 (USD 9) at Utsunomiya works and by JPY 500 at Okayama, Kyushu and Takamatsu Steel Centre respectively.
As per latest price circular, new prices would be effective from today (i.e. 02nd Nov’17) for all grades of scrap at all its five works of the company in Japan. In which H2 scrap bid prices 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 second consecutive rise in a single week in order to strike a balance between local supply and high demand over ongoing peak season for construction activities in Japan.
Now H2 scrap fetches JPY 33,000/MT (USD 289) at largest work in central Japan-Tahara. While the same grade fetches JPY 32,000/MT (USD 281) at Utsunomiya works in north Japan, JPY 31,500/MT (USD 276) at Okayama and Kyushu works in west Japan respectively. For its Takamatsu Steel Center company keeps bids at JPY 31,000/MT.
Prior to this, the company lifted its buying prices for all grades of ferrous scrap only at Tahara plant on 27th Oct’17 by JPY 1000/MT However, Prices had kept unchanged for other works in Japan unlike this price revision.
A market source shared that-“This price revision is done for all works in Japan to restock higher scrap and to meet very strong demand for products. In the ongoing autumn season, Japan’s domestic scrap demand remains strong as this is a peak time for construction activities.”
Tokyo Steel’s scrap purchase prices with effective from 02 Nov’17 –
| Scrap Grade | Name of Work of Tokyo Steel | ||||
| Tahara Plant | Okayama Plant | Kyushu Factory | Utsunomiya Factory | Takamatsu Steel Center | |
| Special Class | 33,000 | 31,500 | 31,500 | 32,000 | 31,000 |
| First Grade | 32,500 | 31,000 | 31,000 | 32,000 | 30,500 |
| Second Grade | 31,000 | 29,500 | 29,500 | 30,500 | 29,000 |
| New Cutting Press | 36,500 | 33,500 | 33,500 | 33,500 | 33,000 |
| Shredder A | 33,500 | 32,000 | 32,000 | 32,500 | 31,500 |
| Shredder C | 33,000 | 31,500 | 31,500 | 32,000 | 31,000 |
Prices in Japanese Yen/MT for transport on land (Exchange Rate USD 1 = JPY 114.06)
Source: Tokyo Steel Reports
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