The major EAF-based steel producer in Japan, Tokyo Steel, has announced a JPY 1,000/mt cut in its local scrap procurement prices at its Utsunomiya plant. Having represented the higher end of the mill’s procurement prices for a long period, prices in Utsunomiya have been cut more than the prices at the other plants, so much so that the plant now represents the lower end of scrap quotations.
Following this new announcement, Tokyo Steel’s prices for H2 scrap have declined by JPY 1,000/mt on the lower end as compared to the prices shared by SteelOrbis yesterday, June 21, to JPY 53,000-55,000/mt ($389-404/mt) depending on the mill. But due to the depreciation of the Japanese yen against the US dollar, in dollars prices have declined by $10/mt on the lower end and $4/mt on the upper end.
The Shindachi scrap price range of Tokyo Steel has also decreased to JPY 55,000-59,000/mt ($404-433/mt). The reduction of the lower end for shindachi scrap is JPY 1,500/mt or $14/mt, while the upper end has decreased by $3/mt, just due to the depreciation of the yen. All prices are delivered and effective from June 23.
Plant |
H2 |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
55,000 |
0 |
59,000 |
0 |
Nagoya |
55,000 |
0 |
- |
0 |
Okayama |
55,000 |
0 |
58,500 |
0 |
Kyushu |
55,000 |
0 |
57,000 |
0 |
Utsunomiya |
53,000 |
-1,000 |
55,000 |
-1,000 |
Takamatsu |
54,000 |
0 |
56,500 |
0 |
$1 = JPY 136.16