Japan’s Tokyo Steel reduces scrap purchase prices further

Thursday, 27 June 2019 00:04:14 (GMT+3)   |   San Diego
       

On June 25, SteelOrbis reported H2 scrap prices at Tokyo Steel’s Okayama site near JPY 26,500/mt ($247/mt), the Tahara site at JPY 27,300/mt ($255/mt), and the Utsunomiya site at JPY 27,000/mt ($252/mt), all prices delivered to customer.

Sources now inform SteelOrbis that prices at the Okayama site are reportedly near JPY 26,000/mt ($241/mt), the Tahara site at JPY 26,500/mt ($246/mt), and the Utsunomiya site at JPY 26,500/mt ($246/mt), all prices delivered to customer. Compared to earlier in the week, scrap buying prices decreased $6/mt at Okayama, decreased $9/mt at Tahara, and decreased $6/mt at Utsunomiya.

This additional scrap buying price decrease by the largest EAF in Japan is expected to place further pressure on general domestic scrap prices in Japan. Lower domestic scrap prices allow for lower scrap prices at docks for export. Lower export prices from Japan to Asian markets also places downward pressure on US scrap export prices on the West coast.

USD = JPY 107.11 (June 25)

USD = JPY 107.79 (Jun 27)


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