The main EAF-based steel producer in Japan, Tokyo Steel, has cut its local procurement scrap prices for the third time this week today, May 19. This time, the reduction in scrap purchase prices was JPY 1,000/mt ($8/mt) for all five assets. Ex-Japan scrap quotations are following the local scrap prices, which are at the lowest level since February.
Tokyo Steel’s price range for H2 scrap has declined to JPY 58,000-59,500/mt ($449-460/mt) depending on the mill. The higher end of the range corresponds to Utsunomiya Works in the Kanto area. The Shindachi scrap prices of Tokyo Steel are at JPY 60,500-64,000/mt ($468-495/mt). All prices are delivered and effective from May 20. The previous price revision was made just yesterday, signaling that demand has been slowing down faster and Tokyo Steel is trying to slow down supply.
As a result, the SteelOrbis reference price for ex-Japan H2 scrap has decreased also by JPY 1,000/mt ($8/mt) today to JPY 59,000-59,500/mt ($457-460/mt) FOB, which is JPY 2,500-3,000/mt below last week.
|
Plant |
H2 |
Shindachi |
||
|
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
|
Tahara |
59,000 |
-1,000 |
64,000 |
-1,000 |
|
Okayama |
59,000 |
-1,000 |
62,500 |
-1,000 |
|
Kyushu |
59,000 |
-1,000 |
61,000 |
-1,000 |
|
Utsunomiya |
59,500 |
-1,000 |
61,500 |
-1,000 |
|
Takamatsu |
58,000 |
-1,000 |
60,500 |
-1,000 |
$1 = JPY 129.14