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
Japan’s leading EAF steel mini-mill - Tokyo Steel has observed second price revision this month after 1st Dec'18 today. As per new price circular released, scrap prices lowered further by JPY 500/MT (USD 4) at Tahara, Utsunomiya and Kyushu works while that of JPY 1000/MT at Okayama plant and Takamatsu steel center of the company in Japan. New prices shall be effective from tomorrow.
Tokyo steel’s H2 prices stand at JPY 31,000/MT (USD 274) for largest plant Tahara. Revised prices hit almost 14 months low as similar price levels were seen on 7th Oct'17 at Tahara in central Japan.
Revised price for H2 stands at JPY 30,500/MT at Okayama works in western Japan and for the same grade prices noted at JPY 29,500/MT for its Takamatsu steel center, JPY 32,500/MT for Kyushu plant and JPY 32,000/MT for Utsunomiya plant located in the Kanto region.
According to reports, last week South Korean Hyundai Steel placed bids for Japanese H2 at JPY 30,500/MT, FoB Japan. Which is still lower by JPY 1500/MT than current price at Utsunomiya Works.
Following this, Japanese scrap export prices are likely to come under pressure further but offers remain limited at the moment. Market remains uncertain with no signs of price bottom yet even after sharp fall in the prices.
source: SteelMint
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
