The leading Japanese EAF-based steel producer Tokyo Steel has cut its local scrap procurement prices for all regions and grades, except for the Tahara yard. The lack of appetite from export markets is exerting pressure on Japanese scrap prices, particularly after the drop seen in the Kanto export tender.
Tokyo Steel’s general price range for H2 grade scrap has moved down by JPY 500/mt on the lower end as compared to the levels recorded on July 10 to JPY 51,500-54,000/mt ($317-332/mt) depending on the mill. Including the changes in the exchange rates, the dollar-based quotations have decreased by $3/mt on the lower end and are stable on the upper end.
Also, Tokyo Steel’s shindachi scrap prices have decreased by JPY 500/mt on the lower end to JPY 53,000-57,000/mt ($324-351/mt), down by $5/mt on dollar basis. The prices shared in the table below are effective as of July 18.
| Plant | H2 scrap | Shindachi | ||
| Price (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | |
| Tahara | 54,000 | 0 | 57,000 | 0 |
| Nagoya | 52,500 | 0 | - | 0 |
| Okayama | 52,500 | -500 | 53,500 | -500 |
| Kansai | 51,500 | -500 | - | - |
| Takamatsu | 52,000 | -500 | 53,000 | -500 |
| Kyushu | 52,000 | -500 | 53,000 | -500 |
| Utsunomiya | 52,500 | -500 | 54,500 | -500 |
| Tokyo Bay | 52,000 | -500 | 54,500 | -500 |
$1 = JPY 162.35
