Tokyo Steel, the main EAF-based steel producer in Japan, has announced a further scrap purchase price decrease for two out of five of its assets on March 22. Weak demand in the Kanto region has been reflected in the decline at the Utsunomiya plant.
The producer has cut H2 prices again for the Tahara and the Utsunomiya plants by JPY 500/mt ($4.6/mt) to JPY 41,000/mt ($377/mt) and JPY 40,500/mt ($372/mt) respectively. Prices have remained stable at Okayama, Kyushu and Takamatsu - at JPY 40,500/mt ($372/mt), JPY 41,000/mt ($377/mt) and JPY 39,500/mt ($363/mt), respectively. All prices are delivered and effective from March 23.
The export market has remained under pressure, but prices have remained stable as the offered volumes in the market are still affected by transportations issues and no new bookings have been heard. The SteelOrbis reference price for ex-Japan H2 is still at JPY 41,000/mt ($377/mt) FOB.