After raising scrap purchase prices consecutively seven times in Nov17, Tokyo Steel has raised prices further by USD 9/MT(JPY 1000) at its Utsunomiya work while by USD 5/MT (JPY 500) at all other works with effect from tomorrow amid bullish global scrap prices.
Japan’s leading EAF steel producer – Tokyo Steel has raised scrap purchase prices for the first time in Dec’17. After seven consecutive price hikes in month Nov’17, the steelmaker has raised scrap purchase prices today with effect from tomorrow (06 Dec).The company has increased its scrap buying prices further by JPY 1000/MT (USD 9) at its Utsunomiya works while by JPY 500/MT (USD 5) at all other works of the company.
As per latest price circular, new prices would be effective from tomorrow (i.e. 06th Dec’17) for all grades of scrap at all five works in Japan.
Now H2 scrap fetches JPY 36,000/MT (USD 320) at largest work in central Japan-Tahara. While the same grade fetches JPY 35,500/MT (USD 316) at Utsunomiya works in north Japan, H2 bids are placed at JPY 35,000/MT(USD 311) for Okayama and Kyushu works in west Japan while for its Takamatsu Steel Center company keeps bids at JPY 34,500/MT (USD 307).
Earlier to this, the steel maker had raised scrap purchase prices on 22 Nov’17 by USD 5/MT (JPY 500) at its all five works Japan.
Japanese H2 scrap reference prices now hiked to JPY 34,000/MT (USD 302), Fob Japan while for New Cutting (Press) scrap to JPY 36,800/MT (USD 327), FoB Japan. These prices have increased by USD 7-9/MT on W-o-W basis.
Steel demand in Japan continues to remain strong amid bullish construction activities taking place for 2020 Olympics in Tokyo and rising production from auto makers.
Tokyo Steel’s scrap purchase prices with effective from 06 Dec’17 –
| Scrap Grade | Name of Work of Tokyo Steel | ||||
| Tahara Plant | Okayama Plant | Kyushu Factory | Utsunomiya Factory | Takamatsu Steel Center | |
| Special Class | 36,000 | 35,000 | 35,000 | 35,500 | 34,500 |
| First Grade | 35,500 | 34,500 | 34,500 | 35,500 | 34,000 |
| Second Grade | 34,000 | 33,000 | 33,000 | 34,000 | 32,500 |
| New Cutting Press A | 39,500 | 37,000 | 37,000 | 37,000 | 36,500 |
| Shredder A | 36,500 | 35,500 | 35,500 | 36,000 | 35,000 |
| Shredder C | 36,000 | 35,000 | 35,000 | 35,500 | 34,500 |
Prices in Japanese Yen/MT for transport on land (Exchange Rate USD 1 = JPY 112.48)
Source: Tokyo Steel Reports
Leave a Reply