Japanese EAF steelmaker Tokyo steel has cut its ferrous scrap purchase prices by JPY500/mt($4.54/mt) for deliveries to Tahara, Kyushu, Okayama, Utsunomiya and Takamatsu works, effective Aug 28, as the market softened. Only bids for #1 busheling at Okayama works are kept unchanged.
After the revision, bids for #2 HMS are at JPY48,000/mt($435.96/mt) delivered Tahara, JPY49,500/mt($449.58/mt) delivered Okayama, JPY48,000/mt($435.96/mt) delivered Kyushu, JPY48,000/mt delivered Utsunomiya and JPY47,500/mt delivered Takamatsu.
Bids for #1 busheling are lowered to JPY54,000/mt del Tahara, JPY50,000/mt del Kyushu, JPY50,000/mt del Utsunomiya, and JPY49,500/mt del Takamatsu.
Revised bids for #1 HMS are at JPY49,700/mt del Tahara, JPY50,200/mt del Okayama, JPY48,700/mt del Kyushu, JPY50,000/mt del Utsunomiya, and JPY47,700/mt del Takamatsu.
The purchase prices for HS equivalent to P&S 5ft are at JPY50,500/mt del Tahara, JPY51,500/mt del Okayama, JPY50,000/mt del Kyushu, JPY50,000/mt del Utsunomiya, and JPY49,500/mt del Takamatsu.
Shredded bids at JPY49,500/mt del Tahara, JPY50,000/mt del Okayama, JPY48,500/mt del Kyushu, JPY48,500/mt del Utsunomiya, and JPY47,500/mt del Takamatsu.
The Japanese government, Wednesday, decided to place additional eight districts under its COVID-19 state of emergency as the country struggles with case overload.
In the Kobe area, new scrap purchasing price fell by $4.6/mt at Tokyo steel’s Himeji works and Yamato steel, effective Aug 27. However, Sanyo special steel has kept prices flat.
In the Osaka area, revised bids for #1 busheling rose by $9.2/mt whereas Osaka steel kept bids for the grade down by $4.6/mt at levels similar to Nakayama steel.
South Korea’s Hyundai steel slashed Japanese scrap purchase prices by JPY1,000/mt($9.08/mt) for all grades, except for H1:H2 on Friday. The previous revision was on Aug 20.
Revised bids for #2 HMS are at JPY44,000/mt, shredded at JPY54,000/mt, P&S 5ft (HS) at JPY57,000/mt and #1 busheling at JPY62,500/mt fob Japan.
($1 = JPY110.10, KRW1,168.99)