The leading Japanese EAF-based steel producer, Tokyo Steel, has announced its new prices for domestic scrap purchases, announcing further cuts for two regions, Nagoya and Utsunomiya by JPY 500-1,000/mt both for H2 scrap and shindachi grades. The lack of scrap demand from traditional export markets is exerting pressure on the local market. Meanwhile, Japanese lobbyists are trying to convince President Trump to conclude reciprocal trading agreements which may benefit all both countries.
Tokyo Steel’s general range for H2 grade scrap price has declined by JPY 500/mt on the lower end to JPY 39,500-41,500/mt ($253-265/mt) depending on the mill. Due to the fluctuation of the Japanese yen against the US dollar, the dollar-based quotations have moved down by $2/mt on the lower end and up by $1/mt on the upper end since December 20.
Shindachi scrap prices of Tokyo Steel have remained unchanged at JPY 41,000-42,500/mt ($262-272/mt) delivered. The dollar-based prices have moved up by $1/mt on the upper end from the levels announced for December 20.
Plant |
H2 scrap |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
41,000 |
0 |
42,000 |
-500 |
Nagoya |
39,500 |
-500 |
- |
- |
Okayama |
41,500 |
0 |
42,500 |
0 |
Kansai |
40,500 |
0 |
- |
- |
Takamatsu |
40,000 |
0 |
41,000 |
0 |
Kyushu |
40,500 |
0 |
41,500 |
0 |
Utsunomiya |
40,000 |
-500 |
41,500 |
-1,000 |
$1 = JPY 156,32