Japan: Tokyo Steel Cuts Scrap Purchase Price by USD 5
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Japan's leading EAF mill - Tokyo Steel has lowered its purchase price by JPY 500/MT (USD 5) at all of its 5 works. New prices for all grades shall be effective from tomorrow (25th Jan'20).
The said price revision comes after a gap of almost six weeks since the last revision was done on 12th Dec'19.
After the price cut, the company will pay JPY 24,500 /MT (USD 224) for H2 scrap delivered at Tahara plant in the central region, Kyushu works in the western region and Utsunomiya works located in the Kanto region. For H2 delivered to Okayama plant and Takamatsu Steel Center the new price will be JPY 23,000 /MT (USD 210) and JPY 22,000/MT (USD 201) levels respectively.
Tokyo Steel has lowered the purchase bids for the first time after two months hike. Falling decline in global scrap prices along with the recent decline in imported scrap offers to Vietnam, Japanese domestic scrap prices have moved down.
Tokyo Steel's Bids For Scrap Purchase from 25th Jan'20.
| Name of Work of Tokyo Steel | |||||
| Scrap Grade | Tahara Plant | Okayama Plant | Kyushu Factory | Utsunomiya Factory | Takamatsu Steel Center |
| Special Class (H2) | 24,500 | 23,000 | 24,500 | 24,500 | 22,000 |
| First Grade | 24,000 | 22,500 | 24,000 | 24,500 | 21,500 |
| Second Grade | 22,500 | 21,000 | 22,500 | 23,000 | 20,000 |
| New Breaking Press A | 27,000 | 24,500 | 26,500 | 26,500 | 23,500 |
| Shredder A | 26,000 | 23,500 | 25,000 | 25,000 | 22,500 |
| Shredder C | 25,500 | 23,000 | 24,500 | 24,500 | 22,000 |
Prices in JPY/MT,
Source: Tokyo Steel Reports
