On January 24, major Japanese EAF-based steel producer Tokyo Steel has announced the first change in its scrap purchase prices since December 11. Accordingly, the producer has cut scrap purchase prices for all its five plants by JPY 500/mt ($4.6/mt).
Prices for Tahara, Utsunomiya and Kyushu came to JPY 24,500/mt ($223/mt) delivered after the change. The producer’s scrap prices for Takamatsu and Okayama have moved to JPY 22,000/mt ($201/mt) and JPY 23,000/mt ($210/mt) delivered, respectively. The prices are effective from January 25.
Scrap export prices from Japan have decreased to JPY 25,500/mt ($233/mt) FOB, as SteelOrbis reported earlier. It is expected that local scrap prices in Japan will continue to follow a downtrend early next month.
$1 = JPY 109.608
