Japan: Tokyo Steel Keep its Steel Prices Steady for Dec’19
Japanese leading electric-arc steel manufacturer, Tokyo Steel Manufacturing Co Ltd, has announced a roll-over in its steel prices today for the Dec deliveries.
Accumulation of stocks in the domestic market combined with subdued demand and tedious buying influenced the company to hold the prices for the month of Dec '19.
Thus, effective prices of H shaped steel hover at JPY 83,000/MT (USD 761.16/MT) and JPY 62,000/MT (USD 568.58/MT) for deformed steel bars (rebars).
Prior this, last month also the company kept its steel prices unchanged for Nov deliveries.
Company hikes scrap purchase price upto USD 9- As per the new price circular released, the company has hiked its scrap purchase bids by JPY 500/MT (USD 5) at all of its 5 works. The new prices for all grades shall be effective from tomorrow (19th Nov'19).
After the said price hike, the company will pay JPY 23,000 /MT (USD 211) for H2 scrap delivered at the Tahara plant in central region while JPY 21,500 /MT (USD197) for Okayama plant. For H2 delivered to Kyushu works in the western region, Utsunomiya works located in the Kanto region and Takamatsu Steel Center the new price will be JPY 24,000/MT (USD 220), JPY 23,500/MT (USD 216), and JPY 20,500/MT (USD 188) levels respectively.
source: SteelMint
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