The bearish sentiments which have recently been prevailing in the Asian raw material markets have continued to weigh on Japanese steelmaker Tokyo Steel’s stance towards its scrap purchase prices.
Accordingly, this time the company has announced a JPY 500/mt ($4.4/mt) decrease in its purchase prices for H2 and shindachi scrap at its Tahara plant to JPY 55,500/mt ($486/mt) and JPY 61,500/mt ($539/mt), respectively. Following the latest revision, Tokyo Steel’s new price levels for H2 scrap have settled at JPY 51,000-55,500/mt ($447-486/mt), while for shindachi scrap they are at JPY 53,500-61,500/mt ($469-539/mt). All prices are delivered and effective from November 17.
Nevertheless, the domestic market has remained stronger than the export, as the latest export H2 scrap from Japan have been at JPY 50,500-53,000/mt ($443-465/mt) FOB, with a lot of pressure coming from foreign customers aiming to lower prices in future bookings further.
|
Plant |
H2 |
Shindachi |
||
|
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
|
Tahara |
55,500 |
-500 |
61,500 |
-500 |
|
Okayama |
54,000 |
0 |
57,500 |
0 |
|
Kyushu |
55,000 |
0 |
57,000 |
0 |
|
Utsunomiya |
55,000 |
0 |
57,000 |
0 |
|
Takamatsu |
51,000 |
0 |
53,500 |
0 |