The leading Japanese EAF-based steel producer Tokyo Steel has cut its local scrap procurement prices for the sixth time since the beginning of July. The weaker interest shown by export markets supports Tokyo Steel's efforts to cut its scrap costs, while other EAF-based steel producers in Japan are following its example.
Tokyo Steel's general price range for H2 grade scrap has moved down by JPY 500/mt as compared to the levels recorded on July 25 to JPY 50,500-53,500/mt ($308-326/mt) depending on the mill. Taking into account the exchange rate changes, the dollar-based quotations have decreased by $4/mt.
Also, Tokyo Steel's shindachi scrap prices have declined by JPY 1,000/mt to JPY 52,000-56,000/mt ($317-341/mt), down by $7/mt on dollar basis. The prices shared in the table below are effective as of July 28.
| Plant | H2 scrap | Shindachi | ||
| Price (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | |
| Tahara | 53,500 | -500 | 56,000 | -500 |
| Nagoya | 52,500 | 0 | - | 0 |
| Okayama | 52,500 | 0 | 53,500 | 0 |
| Kansai | 51,500 | 0 | - | - |
| Takamatsu | 52,000 | 0 | 53,000 | 0 |
| Kyushu | 52,000 | 0 | 53,000 | 0 |
| Utsunomiya | 51,000 | -500 | 53,000 | -500 |
| Tokyo Bay | 50,500 | -500 | 52,000 | -1,500 |
$1 = JPY 163.93
