After the local scrap price increase announced by the major Japanese EAF-based steel producer Tokyo Steel on June 6 for one asset, the company has again resumed the gradual cutting of its prices, though the reductions have been limited and only for the Utsunomiya plant, while the other assets witnessed a correction only for shredded scrap prices.
Tokyo Steel’s general range for H2 grade scrap has declined on the upper end by JPY 500/mt to JPY 45,000-48,500/mt ($323-348/mt) depending on the mill, which, however, did not offset the previous rise of JPY 2,000/mt on the upper end earlier in the month. But the dollar-based prices have indicted minimal changes as the local currency has appreciated a little - prices were up by $2/mt on the lower end and down $1/mt on the upper end compared to the previous levels reported on June 6.
Shindachi scrap prices of Tokyo Steel have also moved down, but on both the lower and upper ends by JPY 500/mt to JPY 46,000-50,000/mt ($330-359/mt), resulting in a $1-2/mt decline in dollar-based prices. All the prices in question are delivered and effective as of June 10.
|
Plant |
H2 |
Shindachi |
||
|
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
|
Tahara |
47,500 |
0 |
48,500 |
0 |
|
Nagoya |
46,500 |
0 |
- |
- |
|
Okayama |
47,000 |
0 |
48,000 |
-500 |
|
Kyushu |
47,500 |
0 |
48,500 |
-500 |
|
Utsunomiya |
48,500 |
-500 |
50,000 |
-500 |
|
Takamatsu |
45,000 |
0 |
46,000 |
-500 |
$1 = JPY 139.41