Tokyo Steel Manufacturing, Japan’s leading mini-mill, will increase its scrap purchase prices for all grades of product at all its steelworks for deliveries starting Friday, according to McGraw-Hill Financial.
The company last lifted its scrap buying price for deliveries starting April 8.
The price of Chinese HRC rose 1.8 percent on Wednesday, April 9, making it the day’s biggest mover. After three days of flat prices, it closed at CNY 3,400 ($548.69) per metric ton. The price of Chinese coking coal saw essentially no change for the fifth day in a row, remaining around CNY 1,390 ($224.32) per metric ton. The price of Chinese slab was unchanged at CNY 3,480 ($561.60) per metric ton. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.56) and a low price of CNY 830.00 ($133.95) per dry metric ton.
The cash price of steel billet saw little movement on the LME at $390.00 per metric ton. The steel billet 3-month price saw little price change yesterday on the LME at $400.00 per metric ton.
The US HRC futures contract 3-month price gained 0.9 percent to finish at $650.00 per short ton. The spot price of the US HRC futures contract saw little movement yesterday at $653.00 per short ton.