IRON and STEEL   Scrap & Recycling  

Japan: Tokyo Steel Cuts Scrap Prices; Utsunomiya Work Prices at 7-Month Low

Steelmaker cuts scrap prices by JPY 500/MT (USD 4) at all works today

Japan’s leading EAF steel mini-mill - Tokyo Steel has slashed scrap purchase prices for seventh time in Nov’18. As per new price circular released, prices reduced by JPY 500/MT (USD 4) at all five works of the company in Japan. New prices shall be effective from tomorrow.

Tokyo steel’s H2 prices stand at JPY 32,000/MT (USD 282) for largest plant Tahara in central Japan and for Okayama works in western Japan. Bids for the same grade noted at JPY 31,000/MT for its Takamatsu steel center, JPY 33,500/MT for Kyushu plant and at JPY 33,000/MT for Utsunomiya plant located in the Kanto region. Similar price levels for H2 in Utsunomiya works were last seen in Apr'18.

While prices for Shredder A and Shredder C grades at Tahara works kept unchanged in recent price revision.

Central Japan’s EAF steelmaker, Chubu Steel cut scrap purchase price by additional JPY 500/MT on 23rd last week. Its H2 purchase price stood in the range JPY 32,000-32,500/MT.

According to port sources, domestic scrap prices continue to remain weak on the ongoing difficult situation for new export contracts. Following which export offers have also come under pressure and stand in the range JPY 32,000-32,500/MT (USD 282-287), FoB.

In addition, Topy Industrial Toyohashi Seisakusho restarted operation last week, but their buying interest seems limited only for newly cutting scrap, and the supply and demand still remains tight.

JPY slightly devalued over the past few day as USD/JPY rate stands at 113.5 today as against 113 on 22nd Nov’18.

South Korean Dongkuk Steel books bulk Japanese H2 scrap - As per SteelDaily’s report, Dongkuk Steel has booked around 18,000 MT Japanese H2 at JPY 34,000/MT, CFR from the spot market. The shipment is scheduled for Jan’18 delivery. Bids stand equivalent to JPY 31,500-32,000/MT, FoB Japan at which Hyundai Steel’s last contract was confirmed.

Leading EAF steelmakers are preparing for upcoming winter season amid which limited demand for Japanese scrap persists in the market. Domestic scrap purchase prices fell successively on oversupply situation in South Korea. Many of the participants are expecting that there is still a room for further price drop as no signs of bottoming out of prices seen yet.

News No: 2751
Date: 2018/11/29 - 01:28
News Source: SteelMint

Tokyo Steel  Scrap  Tahara  Dongkuk Steel 


Leave a Comment:


Indian Bulk Scrap Imports Jump in November - Port Data

India world’s third-largest scrap importer after Turkey and South Korea has witnessed sharp rise in bulk scrap imports in Nov’18. As per vessel line up data, India imported total 126,440 MT bulk ferrous scrap in Nov’18 as against nil volumes in Oct’18.

Bangladesh : Imported Scrap Offers Stable, Bulk Scrap Imports Up 46% in Nov'18

SteelMint learned in recent conversations with industry participants that limited trades for containerized scrap concluded at stable prices in Bangladesh this week. However, sentiments remain moderate amid limited inquiries in the local market by end customers.

Japan: Ferrous Scrap Exports Down 7% in Oct'18

Imports from Vietnam fell 41% while that from South Korea increased 13% M-o-M in Oct'18.

South Korea: Hyundai Steel Books Bulk Scrap Cargo from US and Russia

South Korea’s leading EAF steelmaker - Hyundai Steel has booked two bulk scrap cargoes one after another from USA and Russia last week in preparation for January requirement.

Japan's Tokyo Steel Scrap Purchase Price at Tahara Hit 14 Month Low

Steelmaker cuts scrap prices further by JPY 500-1000/MT (USD 4-9) today

China: Shagang Steel Cuts Scrap Purchase Price by USD 9

Eastern China’s largest ferrous scrap consumer - Shagang Jiangsu Steel group has slashed scrap purchase price today by RMB 60/MT (USD 9). Amid sharply falling finish steel export prices steelmaker has reduced scrap prices.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners