The leading Japanese EAF-based steel producer Tokyo Steel has announced upward adjustments for its domestic scrap prices in two regions, up by JPY 500/mt. Since April 9, this is the first upwards price revision done by the Japanese steel maker. As mentioned in SteelOrbis’ previous reports, the total cut in Tokyo Steel’s domestic scrap procurement prices has reached $24-30/mt since the downtrend started on April 9.
Despite the price change, the general range for H2 grade scrap price has remained stable at the range of JPY 37,000-40,500/mt ($250-273/mt) depending on the mill. The scrap purchase price for Tokyo Bay and Tahara yards are still representing the upper end of the price range. Including the changes in the exchange rates, the dollar-based quotations have moved sideways as compared to the levels announced on August 27.
Meanwhile, shindachi scrap prices of Tokyo Steel have also sideways at JPY 38,000-42,500/mt ($256-287/mt) delivered, unchanged in terms of US dollars. The prices shared in the table below are effective as of September 13.
| Plant | H2 scrap | Shindachi | ||
| Price (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | |
| Tahara | 40,500 | 0 | 42,500 | 0 |
| Nagoya | 40,000 | 0 | - | - |
| Okayama | 39,500 | +500 | 40,500 | +500 |
| Kansai | 39,000 | - | - | |
| Takamatsu | 37,000 | 38,000 | ||
| Kyushu | 40,000 | +500 | 41,000 | +500 |
| Utsunomiya | 39,500 | 0 | 41,000 | 0 |
| Tokyo Bay | 40,500 | 0 | - | - |
$1 = JPY 147.92