The leading Japanese EAF steel producer Tokyo Steel has announced another reduction in its scrap procurement prices today, August 5, cutting them by JPY 1,000-2,500/mt for all assets, effective from August 6. Despite the announcement made by the company, the dollar-based prices have increased as the Japanese yen has appreciated further from JPY 151.053 to the dollar recorded on August 1 to JPY 142.39 to the dollar today.
Tokyo Steel’s general range for H2 grade scrap has settled at JPY 46,500-47,500/mt ($326-333/mt) depending on the mill, with the lower end down by JPY 1,000/mt, while the higher end, representing Utsunomiya in the Kanto area, has fallen by JPY 2,500/mt. However, the dollar-based equivalent prices have increased due to the ongoing appreciation of the Japanese yen, rising by $12/mt on the lower end and by $2/mt on the upper end.
Shindachi scrap prices of Tokyo Steel have settled at JPY 47,500-49,000/mt ($333-344/mt) delivered, while the dollar-based prices have moved up by $11/mt on the lower end and by $3/mt on the upper end.
Plant |
H2 scrap |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
47,500 |
-2,000 |
48,500 |
-2,000 |
Nagoya |
46,500 |
-2,000 |
- |
- |
Okayama |
47,500 |
-1,000 |
48,500 |
-1,000 |
Kansai |
47,500 |
-1,500 |
- |
- |
Takamatsu |
46,500 |
-1,000 |
47,500 |
-1,000 |
Kyushu |
47,000 |
-1,500 |
48,000 |
-1,500 |
Utsunomiya |
47,500 |
-2,500 |
49,000 |
-2,500 |
$1 = JPY 142.39
