The major EAF-based steel producer in Japan, Tokyo Steel, has announced a JPY 1,000/mt cut in its local procurement scrap prices at its Utsunomiya plant. Following consecutive price adjustments announced for the Utsunomiya plant, the plant represents the lower end of Tokyo Steel’s domestic scrap purchase prices. The Japanese scrap market is under pressure amid slower demand received from foreign buyers. One SteelOrbis contact commented, “It is generally safe to say Japanese export quotations have a tendency to move down.”
Following this new announcement, Tokyo Steel’s prices for H2 scrap have declined by JPY 1,000/mt on the lower end as compared to the price levels shared by SteelOrbis on June 24, to JPY 52,000-54,000/mt ($385-400/mt) depending on the mill. Due to the slight depreciation of the Japanese yen against the US dollar, dollar-based prices have decreased by $8/mt on the lower end and moved down by a mere $1/mt on the upper end.
The Shindachi scrap price range of Tokyo Steel has also decreased, to JPY 54,000-57,000/mt ($400-422/mt), while the reduction on the lower end is JPY 1,000/mt. Again, the lower end indicated an $8/mt fall, while the upper end declined by $11/mt due to the appreciation of the yen. All prices are delivered and effective from June 28.
|
Plant |
H2 |
Shindachi |
||
|
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
|
Tahara |
54,000 |
0 |
57,000 |
0 |
|
Nagoya |
53,500 |
0 |
- |
0 |
|
Okayama |
54,000 |
0 |
57,000 |
0 |
|
Kyushu |
54,000 |
0 |
56,000 |
0 |
|
Utsunomiya |
52,000 |
-1,000 |
54,000 |
-1,000 |
|
Takamatsu |
53,000 |
0 |
55,500 |
0 |
$1 = JPY 134.97