Japan: Tokyo Steel Raises H2 Scrap Purchase Price by USD 5/MT
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Higher global scrap prices and higher bids put up by South Korean steel mills, has resulted in increase in bids by Tokyo Steel at two of its works.
Japan's leading EAF steel producer - Tokyo Steel has raised its domestic scrap purchase prices for the second time so far this month. As per latest price circular, scrap buying prices have moved up further by JPY 500/MT (USD 5) at two of its works (i.e. Tahara and Utsunomiya) which would be effective from tomorrow (i.e. 13th Mar'18) for all grades of scrap in Japan. While Tokyo Steel kept prices unchanged for Okayama, Kyushu and Takamatsu Steel center.
Now H2 scrap fetches JPY 38,000/MT (USD 357) at largest work in central Japan-Tahara. While the same grade fetches JPY 37,000/MT (USD 347) at Utsunomiya works in north Japan. While for its Okayama plant, Kyushu factory Takamatsu Steel Center company keeps bids unchanged at JPY 35,000/MT at JPY 35,500/MT and JPY 34,500/MT respectively.
| Scrap Grade | Name of Work of Tokyo Steel | ||||
| Tahara Plant | Okayama Plant | Kyushu Factory | Utsunomiya Factory | TakamatsuSteelCenter | |
| Special Class | 38,000 | 35,000 | 35,500 | 37,000 | 34,500 |
| First Grade | 37,500 | 34,500 | 35,000 | 37,000 | 34,000 |
| Second Grade | 36,000 | 33,000 | 33,500 | 35,500 | 32,500 |
| New Cutting Press A | 42,000 | 37,000 | 37,500 | 39,000 | 36,500 |
| Shredder A | 38,500 | 35,500 | 36,000 | 37,500 | 35,000 |
| Shredder C | 38,000 | 35,000 | 35,500 | 37,000 | 34,500 |
Prices in Japanese Yen/MT for transport on land
Source: Tokyo Steel Reports
Last week, Japan's monthly Kanto scrap tender for March received bids high by USD 26/MT against bids fetched in Feb'18. The average bids for Mar'18 recorded at JPY 37,520/MT (USD 352), FAS as against the average bids at JPY 34,750/MT (USD 326) in Feb'18.
Also South Korea's major steel mill - Hyundai Steel raised bids for Japanese scrap by USD 5/MT on 09th Mar'18. Its latest bid put for H2 grade scrap was at JPY 37,000/MT, FoB Japan against its last bid reported on 05th Mar'18 at JPY 36,500/MT, FoB Japan.
