Japan’s leading steel producer – Tokyo Steel has further raised scrap purchase prices successively twice in this week making it the fourth increase in Sept’17.
Tokyo Steel Manufacturing has lifted its buying prices for all grades of ferrous scrap back to back twice in this week w.e.f 21st and 23rd Sept’17. As per recent reports price revision done w.e.f 21st Sept’17 has noted increment of Yen 1000/MT (USD 9) than previous bid prices likewise again on 23 Sept’17 the prices further lifted by Yen 500/MT.This leads to total increment of USD 14/M in the scrap purchase prices which would be effective from today 23 Sept’17.
While the company has raised prices only for west Japan works – Okayama, Kyushu and Takamatsu Steel Center as prices of other works remain unaltered. The prices for its west Japan works were comparatively lower than other works.
This is the fourth time when the company has revised its domestic scrap buying prices in Sept month. However bid prices for all grades of scrap delivered at largest work Tahara in central Japan and to its Utsunomiya works in the north of Tokyo remained unchanged. Japanese special class H2 scrap still continues to fetch Yen 33,000/MT at both Tahara and Utsunomiya works.
After the first increment by Yen 1000/MT on 20 Sept, H2 delivered was fetching Yen 32,000/MT at both Kyushu works and Okayama works while Yen 31,500/MT at Takamatsu Steel Center. But as per new revision effective from 23 Sept’17, H2 prices now assessed at Yen 32,500/MT at Kyushu and Okayama works while at Yen 32,000/MT delivered to Takamatsu Steel Center.
Tokyo Steel’s scrap purchase prices with effective from 23 Sept’17 –
| Scrap Grade | Name of Work of Tokyo Steel | ||||
| Tahara Plant | Okayama Plant | Kyushu Factory | Utsunomiya Factory | Takamatsu Steel Center | |
| Special Class | 33,000 | 32,500 | 32,500 | 33,000 | 32,000 |
| First Grade | 32,500 | 32,000 | 32,000 | 33,000 | 31,500 |
| Second Grade | 31,000 | 30,500 | 30,500 | 31,500 | 30,000 |
| Shredder A | 33,500 | 33,000 | 33,000 | 33,500 | 32,500 |
| Shredder C | 33,000 | 32,500 | 32,500 | 33,000 | 32,000 |
Prices in Japanese Yen/MT for transport on land
Source: Tokyo Steel Reports
This week the domestic prices for Japanese H2 material in Japan rose slightly from the last week. Export offers for Japanese H2 ferrous scrap now assessed at Yen 32,750-33,000/MT, FoB Japan. While offers were at Yen 32,500/MT, FoB Japan last week.
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