Japan: Tokyo Steel Cuts Scrap Purchase Price by USD 4 at Western Works

Japan’s leading EAF steel mini-mill - Tokyo Steel observed another price cut for scrap purchase prices following a sharp drop in Japan's monthly scrap export Tender Kanto Tetsugen bids concluded today for Dec’18.

As per new price circular released, scrap prices slashed by JPY 500/MT (USD 4) at Western Japan works (Kyushu, Okayama and Takamatsu steel center). While prices kept unchanged at Tahara works in central Japan and Utsunomiya works in the Kanto region. New prices shall be effective from tomorrow.

Revised price for H2 stands at JPY 29,000/MT at Okayama plant and JPY 31,500/MT for Kyushu plant in western Japan while for the same grade prices noted at JPY 28,000/MT for its Takamatsu steel center, JPY 31,500/MT(USD 278) for Utsunomiya plant and JPY 30,500/MT for Tahara works.