Tokyo Steel, the leading EAF-based steel producer in Japan, has announced its third cut in its local scrap purchase prices today, March 28. The reduction was by JPY 1,000/mt and is the result of lower demand both from the domestic and export markets. Last week, South Korean producers shared their bids for Japanese scrap at lower levels, while Vietnam was staying out of the market. The downward pressure on scrap prices in the region is expected to continue.
Tokyo Steel’s general range for H2 grade scrap has moved down to JPY 51,000-53,000/mt ($390-406/mt), depending on the mill. The dollar-based prices have decreased by $9/mt as compared to the previous levels announced on March 24.
Shindachi scrap prices of Tokyo Steel have moved to the new range of JPY 53,000-55,000/mt ($406-421/mt), also down by $8/mt. All the prices in question are delivered and effective as of March 29.
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 |
53,000 |
-1,000 |
54,000 |
-1,000 |
|
Nagoya |
52,500 |
-1,000 |
- |
-1,000 |
|
Okayama |
53,000 |
-1,000 |
55,000 |
-1,000 |
|
Kyushu |
53,000 |
-1,000 |
55,000 |
-1,000 |
|
Utsunomiya |
53,000 |
-1,000 |
54,500 |
-1,000 |
|
Takamatsu |
51,000 |
-1,000 |
53,000 |
-1,000 |
$1 = JPY 130.66