Following its JPY 500/mt cut announced earlier this week effective as of today, June 3, the leading Japanese EAF-based steel producer Tokyo Steel has reduced its domestic scrap purchase prices by another JPY 500/mt for its Kansai and Kyushu plants.
Tokyo Steel’s general range for H2 grade scrap price has remained in the range of JPY 38,500-41,500/mt ($269-290/mt) depending on the mill. The scrap purchase price for the Tahara mill still represents the upper end of the price range. The dollar-based quotations have remained stable on the lower end and declined by a mere $1/mt on the upper end as compared to early this week due to the fluctuation of the Japanese yen against the US dollar.
Meanwhile, shindachi scrap prices of Tokyo Steel are also stable, at JPY 39,500-43,500/mt ($276-304/mt) delivered, down by $1/mt on US dollar basis. The prices in the table below are effective as of June 4.
| Plant | H2 scrap | Shindachi | ||
| Price (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | |
| Tahara | 41,500 | 0 | 43,500 | 0 |
| Nagoya | 40,500 | 0 | - | |
| Okayama | 40,500 | 0 | 41,500 | 0 |
| Kansai | 40,500 | -500 | - | |
| Takamatsu | 38,500 | 0 | 39,500 | 0 |
| Kyushu | 39,500 | -500 | 40,500 | -500 |
| Utsunomiya | 40,500 | 0 | 42,000 | 0 |
$1 = JPY 143.34