The major EAF-based steel producer in Japan, Tokyo Steel, has announced another JPY 1,000-2,000/mt increase for its local scrap procurement prices, resulting in a $10/mt increase on average compared to the previous revision on August 26. The upward revisions of Tokyo Steel’s scrap prices have continued since August 18, reaching a total of JPY 5,000/mt. SteelOrbis hears that scrap demand in Japan is also rising, while scrap prices in the region are supported by the inquiries received from abroad.
After the $10/mt increase, Tokyo Steel’s general range for H2 grade scrap is now at JPY 44,000-48,000/mt ($317-346/mt) depending on the mill. It is observed that the price rise for the Utsunomiya plant is lower than for the other plants - both for H2 and shindachi scrap, though this has had little impact on the general price ranges. The Kyushu plant represents the higher end of prices now.
Tokyo Steel’s general range for shindachi scrap are currently in the range of JPY 46,000-50,000/mt ($331-361/mt). The dollar-based prices have increased by $10/mt due to the slight depreciation of the Japanese yen against the US dollar since August 26. All the prices in question are delivered and effective as of August 30. Exchange rate fluctuations are taken into consideration when calculating the dollar-based price changes.
|
Plant |
H2 |
Shindachi |
||
|
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
|
Tahara |
47,000 |
+2,000 |
49,000 |
+2,000 |
|
Nagoya |
45,000 |
+2,000 |
- |
+2,000 |
|
Okayama |
47,000 |
+2,000 |
49,000 |
+2,000 |
|
Kyushu |
48,000 |
+2,000 |
50,000 |
+2,000 |
|
Utsunomiya |
47,000 |
+1,000 |
48,500 |
+1,000 |
|
Takamatsu |
44,000 |
+2,000 |
46,000 |
+2,000 |
$1 = JPY 138.6