Search Copying and distributing are prohibited without permission of the publisher
Email a friend
  • To include more than one recipient, please separate each email address with a semi-colon ';', to a maximum of 5

  • By submitting this article to a friend we reserve the right to contact them regarding AMM subscriptions. Please ensure you have their consent before giving us their details.

Tokyo Steel resumes scrap price cuts after one month

Keywords: Tags  Tokyo Steel Manufacturing, ferrous scrap, scrap, scrap buying, scrap prices, purchasing prices

TOKYO — Tokyo Steel Manufacturing Co. Ltd. has adjusted its scrap purchase prices for the first time in a month, cutting them by ¥500 ($5) per tonne.

The reduction will affect delivery charges to four of its five works, with those to its Tahara unit left unchanged.

As a result, Japan’s largest electric-arc furnace (EF) operator and effective benchmark price-setter now pays ¥32,500 ($326) per tonne for both land and seaborne deliveries to Tahara, ¥32,000 ($321) for those to its main Utsunomiya factory, ¥31,500 ($316) per tonne for those to its Kyushu and Okayama plants, and ¥30,500 ($306) per tonne for those to its Takamatsu facility.

The company’s latest price adjustment, its first since May 7, amounts to scrap charge reductions of 6 to 9 percent since early April, or ¥2,000 to ¥3,000 ($20 to $30) per tonne.

Moreover, traders say that after a period of relative stability, sentiment is becoming increasingly bearish and other mini-mills are likely to follow Tokyo Steel’s lead in reducing charges, particularly with the yen gaining strength over the past few days just as U.S. scrap prices appear to be retreating.

A version of this article was first published by AMM sister publication Steel First

Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.

Latest Pricing Trends