The major EAF-based steel producer in Japan, Tokyo Steel, has announced a JPY 1,000-1,500/mt cut in its local procurement scrap prices at some of its plants, while keeping quotations at its Tahara and Utsunomiya plants stable. This is the second downward adjustment made by the mill this week.
Following this new announcement, Tokyo Steel’s prices for H2 scrap have declined by JPY 500/mt on the lower end as compared to the price levels shared by SteelOrbis on June 27, to JPY 51,500-54,000/mt ($379-398/mt) depending on the mill. Due to the slight depreciation of the Japanese yen against the US dollar, dollar-based prices have decreased by $6/mt on the lower end and moved down by a mere $2/mt on the upper end.
Despite the price adjustments, the Shindachi scrap price range of Tokyo Steel has remained in the range of JPY 54,000-57,000/mt ($398-420/mt). Again, prices have indicated a $2/mt fall on US dollar basis on both ends of the price range due to the appreciation of the yen. All prices are delivered and effective from June 28.
Plant |
H2 |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
54,000 |
0 |
57,000 |
0 |
Nagoya |
53,500 |
0 |
- |
0 |
Okayama |
53,000 |
-1,000 |
56,000 |
-1,000 |
Kyushu |
53,000 |
-1,000 |
55,000 |
-1,000 |
Utsunomiya |
52,000 |
0 |
54,000 |
0 |
Takamatsu |
51,500 |
-1,500 |
54,500 |
-1,000 |
$1 = JPY 135.70