Japanese EAF steelmaker, Tokyo steel has cut its ferrous scrap purchase prices by JPY500/mt ($4.5/mt) for deliveries to Tahara and Kyushu works, effective July 10 after average bids at the monthly Kanto Tender for July on Friday saw a decline on both, fob and fas basis. From June 24, the steelmaker had kept its purchase prices unchanged/
After the revision, bids for #2 HMS were at JPY51,000/mt ($463.26/mt) delivered Tahara and JPY49,000/mt ($445.09/mt) delivered Utsunomiya. Those for shredded were at JPY52,500/mt ($472.34/mt) delivered Tahara and JPY50,000/mt ($454.17/mt) delivered Kyushu.
Revised bids for #1 busheling were at JPY55,000/mt ($499.59/mt) delivered Tahara and JPY51,000/mt ($463.26/mt) delivered Kyushu. While for HS grade equivalent to P & S 5ft, bids were at JPY53,500/mt ($485.96/mt) and JPY51,500/mt ($467.80/mt) delivered Kyushu.
South Korea’s Hyundai Steel raised bids for high-quality Japanese ferrous scrap on Friday. Bids for #1 busheling were at JPY64,500/mt ($586.46/mt) fob Japan, up by JPY7,500/mt ($68.19/mt) from June 22, while bids for #2 HMS flat at JPY48,000/mt ($436.43/mt) fob Japan.
Bids for shredded at JPY58,000/mt ($527.36/mt), P&S (HS) at JPY60,500 ($550.09/mt) and H1:H2 at JPY48,500/mt ($440.98/mt) fob Japan.
Hyundai purchased a 45,000mt deep-sea cargo of #1 HMS at $513/mt cfr South Korea. The company is also heard to have bought #1 busheling at JPY64,000/mt fob Japan.
Another deal for 30,000mt deep-sea cargo for #1 HMS purchased by a Korean mill heard at $513/mt cfr South Korea.
Meanwhile, Posco announced their purchase price at JPY64,000/mt cfr South Korea equivalent to JPY60,000/mt fob on increased freight rates.
($1 = JPY109.98)