The main EAF-based steel producer in Japan, Tokyo Steel, has announced its second local procurement scrap price cut this week, by JPY 1,000/mt ($8/mt) this time. Accordingly, over the past week its local scrap purchase quotations have fallen by JPY 2,500/mt ($19/mt) in total.
Tokyo Steel’s new price levels for H2 scrap have come to the range of JPY 61,000-63,000/mt ($468-484/mt) depending on the mill, with the highest level being for Utsunomiya Works. The Shindachi scrap quotation range has settled at JPY 63,500-67,000/mt ($488-515/mt). All prices are delivered and effective from May 14.
Declines in the local market in Japan have as expected have led to lower export quotations for ex-Japan scrap, though the latest decreases are mainly indicative since many buyers have not given firm bids and are waiting for further price drops. The SteelOrbis reference price for ex-Japan H2 scrap has come to JPY 62,000/mt ($476/mt) FOB, down by JPY 2,000/mt ($15/mt) from the mid-week assessment and down JPY 4,000/mt ($31/mt) compared to last week.
|
Plant |
H2 |
Shindachi |
||
|
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
|
Tahara |
62,000 |
-1,000 |
67,000 |
-1,000 |
|
Okayama |
62,000 |
-1,000 |
65,500 |
-1,000 |
|
Kyushu |
62,000 |
-1,000 |
64,000 |
-1,000 |
|
Utsunomiya |
63,000 |
-1,000 |
65,000 |
-1,000 |
|
Takamatsu |
61,000 |
-1,000 |
63,500 |
-1,000 |
$1 = JPY 130.25