Japan- Tokyo Steel Keep Steel Prices Unchanged for March Deliveries
Tokyo Steel Manufacturing Co. Ltd- Japan’s leading top electric-arc furnace has announced its steel prices today.Company has kept its steel prices steady for March deliveries over softening global steel prices along with slow demand in domestic market.
Thus rebar prices continued to remain at Yen 69,000/MT and H beam prices at Yen 89,000/MT for March deliveries.
Prior this,Tokyo steel increased plate prices for December deliveries.Thus company has kept its steel prices stable from last three consecutive months owing to weakening prices in overseas market.
Tokyo Steel managing director Kiyoshi Imamura, commented that,”Overseas steel market, which had been weighed down by worries over political risks since late last year, seems to be gradually turning around after the Chinese Lunar New Year holiday.While construction demand at home is a bit slow due to seasonal reasons”.
Further he added, that raw material like iron ore prices witness record high in wake of accident in one of Vale’s iron ore mines in Brazil.Meanwhile scarp prices are also moving in upward direction.
Tokyo steel scrap prices- Japan’s leading EAF steel mini-mill - Tokyo Steel has raised domestic scrap purchase price by JPY 500/MT (USD 5) at all five of its works.The steelmaker has raised scrap purchase prices twice in previous week.
The steelmaker will pay JPY 32,000/MT (USD 290) for H2 scrap delivered to Utsunomiya plant situated in the Kanto region.Japanese scrap buyers in the Kanto region have been increasing the purchase price of scrap on successively falling inventories.
While revised H2 price stands at the largest plant, Tahara at JPY 31,000/MT in the central area and JPY 27,000/MT for Takamatsu steel center, JPY 28,500/MT for Okayama works and JPY 31,500/MT for Kyushu works respectively.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Aluminum price falls to one-month low in wider commodity slump
Skeena advances Eskay Creek permitting, unlocks Orion funding
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
