The main Japanese EAF-based steel producer, Tokyo Steel, has announced its fifth local price cut today, January 29. The producer has cut prices for four of its assets, while leaving prices stable for the Utsunomiya plant, because it had already cut its prices significantly earlier in the week.
Prices for H2 scrap for four plants have been lowered by JPY 1,000/mt ($9.5/mt) this time.
The price level for H2 at the Tahara Works and Okayama Works have declined to JPY 38,500/mt ($367/mt). At Kyushu, the price is at JPY 38,000/mt ($362/mt), while the price at Takamatsu stands at JPY 37,500/mt ($358/mt).
Tokyo Steel has left the price for its Utsunomiya asset at JPY 29,000/mt ($277/mt), while it was at JPY 38,000/mt early this week. Market sources said that such a sharp fall at this plant this week is attributable to the two weeks’ maintenance works at the asset and its much lower consumption of scrap as a result. All prices are delivered and effective from January 30.