Japan’s leading EAF steel producer – Tokyo Steel has raised scrap purchase price for the third time in a row in Nov’17. After two consecutive price hikes on 02 & 08 Nov’17, the steel maker has again raised scrap purchase prices with effect from today.
Tokyo Steel has increased its scrap buying prices further by JPY 500/MT (USD 4) at three works of the company-Okayama, Kyushu and Takamatsu Steel Centre. However prices at its Tahara and Utsunomiya remains unchanged.
As per latest price circular, new prices would be effective from today (i.e. 10th Nov’17) for all grades of scrap at its works of the company in Japan.
Now H2 scrap fetches JPY 34,000/MT (USD 300) at largest work in central Japan-Tahara. While the same grade fetches JPY 33,000/MT (USD 291) at Utsunomiya works in north Japan, JPY 32,500/MT (USD 287) at Okayama and Kyushu works in west Japan respectively. For its Takamatsu Steel Center company keeps bids at JPY 32,000/MT (USD 282).
Prior to this, the steel maker had raised scrap purchase price on 08 Nov’17 at all its works by USD 4-9/MT.
The average bid price in Japan’s monthly scrap export tender for Nov’17 conducted yesterday went higher by JPY 1,338/MT (USD 12/MT) M-o-M to Japanese Yen 31,890/MT FAS (USD 280/MT) for H2 grade scrap.
Steel demand in Japan continues to remain strong amid construction activities taking place for 2020 Olympics in Tokyo and rising production from auto makers.
Tokyo Steel’s scrap purchase prices with effective from 10 Nov’17 –
|
Scrap Grade |
Name of Work of Tokyo Steel | ||||
| Tahara Plant | Okayama Plant | Kyushu Factory | Utsunomiya Factory |
TakamatsuSteel Center |
|
| Special Class | 34,000 | 32,500 | 32,500 | 33,000 | 32,000 |
| First Grade | 33,500 | 32,000 | 32,000 | 33,000 | 31,500 |
| Second Grade | 32,000 | 30,500 | 30,500 | 31,500 | 30,000 |
| New Cutting Press A | 37,500 | 34,500 | 34,500 | 34,500 | 34,000 |
| Shredder A | 34,500 | 33,000 | 33,000 | 33,500 | 32,500 |
| Shredder C | 34,000 | 32,500 | 32,500 | 33,000 | 32,000 |
Prices in Japanese Yen/MT for transport on land (Exchange Rate USD 1 = JPY 113.3)
Source: Tokyo Steel Reports
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