Japan: Tokyo Steel Scrap Purchase Price at Utsunomiya hit 3-Month Low
As per new price circular released, Japan’s leading EAF steel mini-mill - Tokyo Steel has lowered domestic scrap purchase price by JPY 500/MT (USD 5) at all five works in Japan. New prices for all grades shall be effective from tomorrow (16th Apr'19).
With a recent price cut, the company will pay JPY 32,500/MT (USD 290) at Tahara in central Japan and Kyushu works in the Western region. While JPY 31,000/MT (USD 278) for H2 delivered to Utsunomiya plant in the Kanto region, JPY 31,500/MT for Okayama plant and JPY 30,000/MT at Takamatsu steel center.
Notably, H2 purchase price at Utsunomiya plant was last seen at JPY 31,000/MT on 8th Jan'19 thus, prices have hit 3 months low.
The steelmaker has lowered price for high-grade scrap 'New cutting press A' by JPY 1000/MT at Utsunomiya amid low demand for high-grade scrap in the market. Moreover, last week Hyundai Steel presented bids only for H2 by lowering prices further JPY 500/MT to JPY 32,500/MT, FoB.
Participants anticipate that Japanese scrap prices may continue downtrend as the supply-demand situation is not being considered as tight amid slow demand from overseas markets and upcoming Golden week holidays may keep production activities slow.
source: SteelMint
Top News
Five last month
Two last year
Mali threatens to let Barrick mine permit lapse over dispute
China will hit peak copper around 2030, industry group says
Codelco suspends operations at copper refinery after worker’s death
Biden administration approves ioneer’s Nevada lithium mine
Could seaweed farms become the next generation of mines?
Gold price scales $2,800 amid US election uncertainty
El-Erian says soaring gold is driven by dollar diversification
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Gold price scales $2,800 amid US election uncertainty
Nornickel raises 2024 production guidance for all metals
CHART: Copper price is being held hostage by Beijing
Nornickel raises 2024 production guidance for all metals
El-Erian says soaring gold is driven by dollar diversification
Gold stocks’ secular breakout
China will hit peak copper around 2030, industry group says
Mali threatens to let Barrick mine permit lapse over dispute
China will hit peak copper around 2030, industry group says
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Gold price scales $2,800 amid US election uncertainty
CHART: Copper price is being held hostage by Beijing
El-Erian says soaring gold is driven by dollar diversification
Gold stocks’ secular breakout
Mali threatens to let Barrick mine permit lapse over dispute
Millennial mining heirs bet the family business on Argentine copper