Japan: Tokyo Steel Cuts Scrap Purchase Price at Kyushu Works
Japan’s leading EAF mini-mill, Tokyo Steel has lowered its scrap purchase price by JPY 500/MT (USD 5) at its Kyushu works, while keeping its bids unchanged for the other 4 plants, as per the latest price circular. The new prices for all grades shall be effective from tomorrow (28th Feb’20).
After the said price cut, the company will pay JPY 19,500/MT (USD 177) for H2 scrap delivered to its Kyushu works in the western region, while the price for H2 delivery to Utsunomiya plant in the Kanto region, Tahara Plant in the Central region, Okayama plant and Takamatsu Steel Centre remain unchanged at JPY 20,000/MT (USD 182,) JPY 20,500/MT (USD 186) ,JPY 19,000/MT and JPY 18,000/MT respectively, on DaP basis.
Notably, Japanese export offers to Taiwan, Vietnam and even South Korea have recently soared up, on the back of good demand from Taiwanese mills recently, hence it would be interesting to see the direction of of domestic scrap prices in Japan in the coming days.
source: SteelMint
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