On Wednesday, February 5, major Japanese EAF-based steel producer Tokyo Steel has cut its scrap purchase prices again, while the pace of decline has increased. At the same time, ex-Japan export prices for different Asian customers have also lost about $10/mt this week.
Tokyo Steel has reduced scrap purchase prices for all its five plants by JPY 500-1,000/mt ($4.6-9/mt). Prices for Utsunomiya and Kyushu plants have declined the most, by JPY 1,000/mt ($9/mt) to JPY 22,000/mt ($201/mt) delivered, while those for the Tahara works have gone down by JPY 500/mt ($4.6/mt) to JPY 22,500/mt ($205/mt) delivered. Quotations for Takamatsu and Okayama are at JPY 20,000/mt ($182/mt) and JPY 21,000/mt ($192/mt) delivered, respectively, both down by JPY 500/mt. The prices are effective from February 6. As SteelOrbis reported earlier, the previous revision by Tokyo Steel was made on February 3.
Ex-Japan scrap prices are following the downtrend in the international market. Ex-Japan H2 scrap prices for Vietnamese customers have lost $10/mt over the past week and have come to $260-265/mt CFR. Offers to South Korea have moved down by about JPY 500/mt ($5/mt) since early this week and by JPY 1,000/mt ($9/mt) compared to late last week to JPY 24,000/mt ($219/mt) FOB.
$1= JPY 109.57
