On January 30, major Japanese EAF-based steel producer Tokyo Steel has announced another reduction in its scrap purchase prices, the second reduction this week and the third one this month. The producer has this time cut scrap purchase prices for all its five plants by JPY 500/mt ($4.6/mt).
Prices for Tahara, Utsunomiya and Kyushu plants have come to JPY 23,500/mt ($216/mt) delivered. The producer announced new prices for Takamatsu and Okayama at JPY 21,000/mt ($193/mt) and JPY 22,000/mt ($202/mt) delivered, respectively. The prices are effective from January 31.
Ex-Japan export prices are stable compared to the previous deals at JPY 25,500/mt ($234/mt) FOB. However, taking into account weakening sentiments in the Asian market and falling bids, the current maximum workable level for ex-Japan H2 scrap has moved down to JPY 25,000/mt ($230/mt) FOB, SteelOrbis has learned.
$1 = JPY 108.89
