Through the month of October, SteelOrbis has reported Japanese H2 scrap stable in the domestic market with some gains in dollar terms because of JPY improvements against the dollar. Sources inform SteelOrbis that Tokyo Steel has decreased the purchase price of scrap at both the Tahara and Okayama plants which are on the south west side of the island in comparison to Tokyo. On September 26, SteelOrbis reported several consecutive H2 scrap price increases at both sites. The Okayama plant H2 scrap prices reportedly increased to JPY 38,500/mt ($341/mt) while the Tahara plant H2 scrap prices increased to JPY 38,000/mt ($336/mt), all prices delivered to customer.
Prices on October 30 at Tokyo Steel H2 purchase scrap prices are now reportedly at JPY 37,500/mt ($332/mt) in the Okayama plant and at JPY 37,000/mt ($328/mt) in the Tahara plant, all prices delivered to customer. Compared to a month ago, prices declined $9/mt in the Okayama plant and $8/mt in the Tahara plant. H2 scrap purchase prices at the Utsunomiya plant are reportedly trending stable since mid-September. While sources inform SteelOrbis that Tokyo Steel scrap purchase prices are traditionally higher than the mini-mill prices reported in Tokyo, Osaka and Nagoya. Prices at those mini-mills usually trail movements made by the country’s largest EAF.
USD = JPY 112.94 (Sep 26)
USD = JPY 112.84 (Oct 30)