Japan’s Tokyo Steel decreases scrap buying prices

Thursday, 22 August 2019 23:30:29 (GMT+3)   |   San Diego
       

On August 6, SteelOrbis reported that Tokyo Steel decreased scrap buying prices at the Okayama plant. Prices at the Okayama site were reportedly around JPY 25,000/mt ($235/mt), JPY 26,200/mt ($246/mt) at the Tahara sites, and JPY 26,900/mt ($253/mt) at the Utsunomiya plant, all prices delivered to customer.

Sources inform SteelOrbis that both the Okayama plant and Tahara plant have decreased prices by JPY 1000/mt. Prices at the Okayama site are reportedly around JPY 24,000/mt ($226/mt), around JPY 25,200 ($237/mt) at the Tahara sites, and JPY 26,900/mt ($253/mt) at the Utsunomiya plant, all prices delivered to customer. Prices decreased by $9/mt at both the Okayama and Tahara plants while remaining stable at the Utsunomiya plant.

A source noted the concern that with lower import scrap buying prices in Turkey this week as well as lower domestic buying prices announced by Tokyo Steel, the average scrap buying prices in the Japanese domestic market will likely also decline this week. 

USD = JPY 106.49 (Aug 6)

USD = JPY 106.40 (Aug 22)


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