Japan: Tokyo Steel Raises Scrap Buying Prices by Yen 1000/MT (USD 9)
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Japan's leading steel producer Tokyo Steel Manufacturing has increased its buying prices for all grades of ferrous scrap up to Yen 1,000/MT delivered to all its works again on 12 Sept.New prices would be effective from today (13 Sept’17).Prior to this, it had raised prices on 22 Aug’17.
This is fifth consecutive price hike the company has announced within last 2 months period (12 Jul-12 Sept’17).
The company is Japan's largest producer of H-Beams and top electric-arc steel mill. Its production also devoted to sheet piles, jumbo H-beams, and a variety of flat-steel products. (Hot coils, pickled and oiled coils, galvanized coils, heavy steel plates, etc.)
Tokyo Steel's prices for all grades of scrap delivered to its Utsunomiya works in the north of Tokyo registered an increase of Yen 500/MT (USD 4.5) against lastly updated prices, which took the H2 grade on land prices to Yen 33,000/MT (USD 300/MT) right now at Utsunomiya work.
The largest work Tahara in central Japan now fetches Yen 32,500/MT for H2 as the rise of Yen 500/MT (USD 4.5) in the prices for all grades of scrap seemed against the previous prices for the same plant for both seas and on the land route.
The prices for all grades of scrap delivered to its Kyushu works and Okayama works in western Japan and at Takamatsu Steel Center registered increment of USD 9/MT (Yen 1000) thus H2 delivered now fetches Yen 30,000/MT at both Kyushu works and Okayama works while H2 prices at Takamatsu Steel Center accessed at Yen 29,500/MT as per new revision.
Tokyo Steel’s domestic scrap purchase prices w.e.f 13 Sept’17 -
| Scrap Grade | Name of Work of Tokyo Steel | ||||
| Tahara Plant | Okayama Plant | Kyushu Factory | Utsunomiya Factory | Takamatsu Steel Center | |
| Special Class | 32,500 | 30,000 | 30,000 | 33,000 | 29,500 |
| First Grade | 32,000 | 29,500 | 29,500 | 33,000 | 29,000 |
| Second Grade | 30,500 | 28,000 | 28,000 | 31,500 | 27,500 |
| Shredder A | 33,000 | 30,500 | 30,500 | 33,500 | 30,000 |
| Shredder C | 32,500 | 30,000 | 30,000 | 33,000 | 29,500 |
Prices in Japanese Yen/MT for transport on land.
Source: Tokyo Steel Reports
Japan’s ferrous scrap export prices stable in this week -
As per assessment, Japanese H2 scrap export prices stood at USD 296-298/MT, Fob Japan. South Korea’s leading steel mill Hyundai Steel’s bid prices for Japanese H2 scrap now stood at USD 298/MT (Yen 32,500) FoB, Japan. While bids for HS scrap accessed around USD 325/MT (Yen 35,500).
Monthly scrap export tender fetches bids higher by USD 6/MT -
Japan’s monthly ferrous scrap export tender Kanto Tetsugen concluded on 12 Sept’17 for this month fetched bids higher by USD 6/MT M-o-M in Sept'17.The winning bid concluded at Yen 32,230/MT and the runner-up was at Yen 32,220/MT FAS, both for 10,000 MT.The auction attracted 19 bids for a total of 130,000 MT ferrous scrap.accordingly, Tokyo Steel revised bid prices in line with a hike in monthly exports tender.
