This week has been better for the Japanese scrap market as the price drop seen earlier has slowed down, though it has failed to stop. The main EAF producer in Japan, Tokyo Steel, has announced a scrap price cut for one of its assets.
Tokyo Steel’s general range for H2 grade scrap has remained stable at JPY 45,000-47,500/mt depending on the mill, as they have been reduced just for one plant, Nagoya, by JPY 500/mt. But the dollar-based prices have continued to go down, by $5/mt over the past week to $328-346/mt, as compared to the previous levels reported on May 10, due to the weakening of the Japanese yen.
Shindachi scrap prices of Tokyo Steel are at JPY 46,500-48,500/mt ($339-354/mt), stable in JPY and down by $4-5/mt on US dollar basis. All the prices in question are delivered and effective as of May 19.
|
Plant |
H2 |
Shindachi |
||
|
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
|
Tahara |
47,500 |
0 |
48,500 |
0 |
|
Nagoya |
46,500 |
-500 |
- |
- |
|
Okayama |
47,000 |
0 |
48,500 |
0 |
|
Kyushu |
47,500 |
0 |
49,500 |
0 |
|
Utsunomiya |
47,000 |
0 |
48,500 |
0 |
|
Takamatsu |
45,000 |
0 |
46,500 |
0 |
$1 = JPY 137.08