The leading Japanese EAF-based steel producer Tokyo Steel has cut its domestic scrap purchase prices further by JPY 500/mt in three regions, following the price cut announced for Kansai earlier this week.
The general range for H2 grade scrap price has decreased by JPY 500/mt on the lower end to the range of JPY 37,500-40,500/mt ($254-274/mt) depending on the mill. The scrap purchase price for the Tokyo Bay and Tahara yards represents the upper end of the price range. Taking into account the changes in the exchange rate, the dollar-based prices have declined by $3/mt on the lower end as compared to the levels mentioned on July 20.
Meanwhile, shindachi scrap prices of Tokyo Steel have moved down by JPY 500/mt or $3/mt on the lower end to JPY 38,500-42,500/mt ($261-288/mt) delivered. The prices shared in the table below are effective as of August 22.
Meanwhile, the Tokyo Bay FAS-based prices for H2 grade scrap are still at JPY 39,500/mt ($26/mt), unchanged as compared to the levels reported by SteelOrbis on August 8. The FOB-based export price remains at JPY 40,500/mt ($274/mt) for the grade in question.
Since August 8, the Tokyo Bay HS grade scrap price has moved sideways at JPY 44,500/mt ($301/mt) FAS, while the shindachi scrap price has remained stable at JPY 44,500/mt ($301/mt) FAS.
| Plant | H2 scrap | Shindachi | ||
| Price (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | |
| Tahara | 40,500 | 0 | 42,500 | 0 |
| Nagoya | 40,000 | 0 | - | - |
| Okayama | 39,500 | -500 | 40,500 | -500 |
| Kansai | 39,500 | 0 | - | - |
| Takamatsu | 37,500 | -500 | 38,500 | -500 |
| Kyushu | 39,500 | 0 | 40,500 | 0 |
| Utsunomiya | 39,500 | -500 | 41,000 | -500 |
| Tokyo Bay | 40,500 | 0 | - | - |
$1 = JPY 147.65
