Tokyo Steel continues to cut for local scrap purchase prices

Tuesday, 29 November 2022 15:36:38 (GMT+3)   |   Istanbul
       

The main EAF-based steel producer in JapanTokyo Steel, has continued to cut its local scrap procurement prices amid the ongoing sluggishness of demand in the local market in Asia. Tokyo Steel has reduced its scrap prices for all plants by JPY 500/mt, though the appreciating Japanese yen has caused dollar-based quotations to increase instead. While some South Korean mills are heard to be returning to the Japanese scrap market, SteelOrbis hears that they are only testing the waters right now.

Tokyo Steel’s general range for H2 grade scrap has come to JPY 45,000-46,500/mt ($326-337/mt), depending on the mill. The appreciation of the Japanese currency has resulted in a $4-5/mt increase in the dollar-based prices this time. The previous price revision was announced on November 24, when Japanese yen-US dollar exchange rate was at 141.38.

The shindachi scrap prices of Tokyo Steel are now in the range of JPY 47,000-48,000/mt ($341-348/mt), up $5/mt from the previous levels. All the prices in question are delivered and effective as of November 30. 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 

46,000 

-500 

47,000 

-500 

Nagoya 

45,500 

-500 

Okayama 

46,000 

-500 

48,000 

-500 

Kyushu 

46,000 

-500 

48,000 

-500 

Utsunomiya 

46,500 

-500 

48,000 

-500 

Takamatsu 

45,000 

-500 

47,000 

-500 

$1 = JPY 137.94


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