Japan: Tokyo Steel Scrap Prices at Utsunomiya Works Hit 1 Year Low
Steelmaker cuts scrap prices further 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 8th 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 31,500/MT (USD 277) for largest plant Tahara in central Japan and for Okayama works in western Japan. Bids for the same grade noted at JPY 30,500/MT for its Takamatsu steel center, JPY 33,000/MT for Kyushu plant.
Revised price stands at JPY 32,500/MT for Utsunomiya plant located in the Kanto region hitting almost 1 year low as similar price levels were last seen in Nov'17.
According to sources, domestic scrap prices continue downtrend on the ongoing difficult situation for new export contracts. South Korean Hyundai Steel placed bids for Japanese H2 at JPY 30,500/MT,FoB Japan. Following which export offers have also come under pressure and stand in the range JPY 31,000-32,000/MT (USD 273-282), FoB.
Market turns uncertain if prices have hit bottom or not. Suppliers believe that they do not see a bottom yet even after sharp fall in the prices.
source: SteelMint
Top News
Six last month
Two last year
Bolivia ditches new gold rule within days to curb ‘speculation’
Iron ore price drops toward $100 as China’s latest fix disappoints
China, Indonesia seal $10 billion in deals focused on green energy and tech
Copper price, stocks are being hammered as Trump tariff, China worries mount
Codelco copper production rises in September, Escondida dips
Suitors circle American Eagle Gold as South32 takes 19.9% stake
US judge narrows investor lawsuit against Rio Tinto over Mongolian mine
Top gold ETF sees largest weekly outflow since 2022 on Trump win
Japan, Peru to agree on cooperation in mineral mining technology
Families gather at South African mine shaft where hundreds are feared stuck underground
Soaring demand for copper will help drive mergers, BHP CEO says
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Lithium in nascent rebound, but long-term outlook is bleak
Higher silver supply to reduce global deficit by 4% in 2024
Swapping aluminum for copper will maintain China’s resources, group says
MinRes halts Bald Hill mine amid lithium price rout
Suitors circle American Eagle Gold as South32 takes 19.9% stake
Zimbabwe to end tax relief for miners to spur mineral processing
Australian iron ore giants’ shares sink on disappointing China stimulus
Families gather at South African mine shaft where hundreds are feared stuck underground
Soaring demand for copper will help drive mergers, BHP CEO says
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Higher silver supply to reduce global deficit by 4% in 2024
Swapping aluminum for copper will maintain China’s resources, group says
MinRes halts Bald Hill mine amid lithium price rout
Suitors circle American Eagle Gold as South32 takes 19.9% stake
Zimbabwe to end tax relief for miners to spur mineral processing
Australian iron ore giants’ shares sink on disappointing China stimulus