Tokyo Steel, the leading EAF-based steel producer in Japan, has announced another cut in its local scrap purchase prices by JPY 1,500/mt on the lower end and JPY 1,000/mt on the upper end. Despite the cut in quotations, Tokyo Steel’s dollar-based prices have only declined on the lower end as compared to the levels recorded on March 17 when the Japanese yen was at 132.90 to the dollar. The sentiment in the Asian scrap market is pessimistic, with Vietnam waiting to see the impact of a possible cancelation of duties on billet imports, while South Korea is not showing much need for import scrap and with Taiwan experiencing a slowdown in finished steel demand.
Tokyo Steel’s general range for H2 grade scrap has moved down to JPY 52,000-54,000/mt ($399-414/mt), depending on the mill. The dollar-based prices have decreased by $4mt on the lower end due to the appreciation of the Japanese yen and have remained stable on the upper end.
Shindachi scrap prices of Tokyo Steel have moved to the new range of JPY 54,000-56,000/mt ($414-429/mt), also down by $4/mt only on the lower end from the previous levels. All the prices in question are delivered and effective as of March 25.
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 |
54,000 |
-1,000 |
55,000 |
-1,000 |
|
Nagoya |
53,500 |
-1,000 |
- |
-1,000 |
|
Okayama |
54,000 |
-1,000 |
56,000 |
-1,000 |
|
Kyushu |
54,000 |
-1,000 |
56,000 |
-1,000 |
|
Utsunomiya |
54,000 |
-1,000 |
55,500 |
-1,000 |
|
Takamatsu |
52,000 |
-1,500 |
54,000 |
-1,500 |
$1 = JPY 130.41