Tokyo Steel Cuts Scrap Buying Prices Further by USD 4
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Japan's leading steel producer Tokyo Steel Manufacturing has further reduced its scrap buying prices by Yen 500/MT (USD 4) for all of its works today. As per new price circular, new prices would be effective from today (i.e 05th Oct'17) at all its five works of the company in Japan.
After maintaining successive uptrend in its domestic scrap purchase prices since mid of Jun'17, the steel maker has reduced scrap buying prices successively by Yen 500/MT owing to decline in global prices. Prior to this, the company declined its buying prices for all grades of ferrous scrap at its Tahara and Utsunomiya works by Yen 500/MT on 30 Sept'17.
Tokyo Steel operates with Tahara, Okayama, Kyushu and Utsunomiya plants and Takamatsu steel center in Japan. As per new revision, Tokyo Steel declined its buying prices for all grades of ferrous scrap at all of its five works.
Now H2 scrap fetches Yen 32,000/MT at largest work in central Japan-Tahara, Utsunomiya work in north of Tokyo, Okayama and Kyushu works in west Japan respectively. While Japanese H2 Scrap fetches Yen 31,500/MT for its Takamatsu Steel Center in Japan.
As per sources owing to softening sentiments in the global market, foreign buyers have reduced their bids. Following this, many electric arc furnaces have lessened their scrap purchase prices.
Tokyo Steel's scrap purchase prices with effective from 05 Oct'17 -
| Scrap Grade | Name of Work of Tokyo Steel | ||||
| Tahara Plant | Okayama Plant | Kyushu Factory | Utsunomiya Factory | Takamatsu Steel Center | |
| Special Class | 32,000 | 32,000 | 32,000 | 32,000 | 31,500 |
| First Grade | 31,500 | 31,500 | 31,500 | 32,000 | 31,000 |
| Second Grade | 30,000 | 30,000 | 30,000 | 30,500 | 29,500 |
| Shredder A | 32,500 | 32,500 | 32,500 | 32,500 | 32,000 |
| Shredder C | 32,000 | 32,000 | 32,000 | 32,000 | 31,500 |
Prices in Japanese Yen/MT for transport on land
Source: Tokyo Steel Reports
Japan's monthly scrap export tender-'Kanto Tetsugen' scheduled on 12th Oct'17 -
Japan's monthly ferrous scrap export tender known as 'Kanto Tetsugen' has been scheduled on 12th for this month (Oct'17).Most of the recyclers in Japanese scrap market are curiously looking forward to this tender.Surprisingly in Sept'17, bid prices had marked the highest level since last 3 years.
The 'Kanto Tender' considered as a major dynamic in terms of Japanese scrap market. It consists of around 80 prime companies of metal recycling business in Japan and monthly exports steel scrap to East Asian countries like Vietnam, Taiwan, South Korea, China, and Indonesia.
