Tokyo Steel, the leading EAF-based steel producer in Japan, has announced a larger price cut for domestic scrap procurement today, April 25. Since the start of the current decreases by Tokyo Steel on March 17, this is the seventh reduction announced the steelmaker, and, with the ongoing negative sentiment in the international scrap market, its downward revisions are expected to continue. The usual buyers of Japanese scrap are still exerting pressure on quotations, and so local Japanese buyers are not operating in a very competitive environment as regards scrap purchases.
Tokyo Steel’s general range for H2 grade scrap has moved down by JPY 1,000-1,500/mt from the levels recorded on April 21 to JPY 47,500-50,000/mt ($354-373/mt), depending on the mill. The dollar-based prices have decreased by $9-10/mt as compared to the previous levels.
Shindachi scrap prices of Tokyo Steel have moved to the new range of JPY 49,000-51,500/mt ($365-384/mt), down by JPY 1,000-2,000/mt or $14/mt. All the prices in question are delivered and effective as of April 26.
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 |
50,000 |
-1,500 |
51,000 |
-1,500 |
|
Nagoya |
49,500 |
-1,000 |
- |
- |
|
Okayama |
49,500 |
-1,500 |
51,000 |
-2,000 |
|
Kyushu |
50,000 |
-1,500 |
51,500 |
-2,000 |
|
Utsunomiya |
49,000 |
-1,000 |
50,500 |
-1,000 |
|
Takamatsu |
47,500 |
-1,500 |
49,000 |
-2,000 |
$1 = JPY 134.10