Tokyo Steel has cut its steel scrap prices again by JPY 500 per ton since January 10th.
After the adjustment, its H2 scrap purchasing prices averaged at JPY 23,500 per ton to JPY 26,500 per ton.
On Thursday, January 15, the day’s biggest mover was the 3-month price of the US HRC futures contract, which saw a 1.5% decline to $588.00 per short ton. The US HRC futures contract spot price weakened by 0.7%, settling at $590.00 per short ton.
Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.61) and a low price of CNY 840.00 ($135.61) per dry metric ton. At CNY 2,890 ($466.57) per metric ton, the price of Chinese HRC was essentially unchanged. The price of Chinese coking coal continues hovering around CNY 1,080 ($174.36) per metric ton for the fifth day in a row.
The steel billet cash price was unchanged on the LME at $500.00 per metric ton. For the fifth consecutive day, the 3-month price of steel billet held flat on the LME at $480.00 per metric ton.