Another price cut has been announced by Tokyo Steel, the leading EAF-based steel producer in Japan today, April 11, following the $27/mt drop recorded in the recent Kanto tender. Since the start of this current downtrend by Tokyo Steel on March 17, this is the fifth reduction announced by the steelmaker.
Tokyo Steel’s general range for H2 grade scrap has moved down by JPY 500-1,000/mt from the levels recorded on April 4 to JPY 49,500-52,000/mt ($372-391/mt), depending on the mill. The dollar-based prices have decreased by $5-8/mt as compared to the previous levels.
On March 17, Tokyo Steel’s general range for H2 grade scrap was at JPY 53,500-55,000/mt ($403-414/mt with the exchange rate at JPY 132.90 to the dollar), depending on the mill. The total decline is now JPY 3,000-4,000/mt or $23-31/mt. The average fall month on month announced by Tokyo Steel ($27/mt) now equals the decline observed in the Kanto tender.
Shindachi scrap prices of Tokyo Steel have moved to the new range of JPY 51,500-54,000/mt ($387-409/mt), also down by JPY 500-1,000/mt or $5-9/mt. All the prices in question are delivered and effective as of April 12.
Exchange rate fluctuations are taken into consideration when calculating the dollar-based price changes.
Plant |
H2 |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
52,000 |
-500 |
53,000 |
-500 |
Nagoya |
51,000 |
-1,000 |
- |
- |
Okayama |
51,500 |
-1,000 |
53,500 |
-1,000 |
Kyushu |
52,000 |
-500 |
54,000 |
-500 |
Utsunomiya |
51,000 |
-1,000 |
52,500 |
-1,000 |
Takamatsu |
49,500 |
-1,000 |
51,500 |
-1,000 |
$1 = JPY 133.05
