On July 10, Tokyo Steel, the main EAF-based steel producer in Japan, announced a scrap purchase price decrease for two of its five assets.
Accordingly, the prices for H2 at the Tahara Works and the Kyushu plant have gone down by JPY 500/mt ($4.5/mt) to JPY 51,000/mt ($463/mt) and JPY 49,500/mt ($449/mt) respectively. Prices for the other three assets (Okayama Works, Utsunomiya and Takamatsu) have remained in the range of JPY 49,000-51,000/mt ($445-463/mt). All prices are delivered and effective from July 11.
Currently, ex-Japan H2 prices have continued to be under pressure in the export markets. As SteelOrbis reported previously, the most recent monthly Kanto Tetsugen export tender in Japan for shipment of H2 scrap, reportedly to Vietnam, was closed at JPY 47,888/mt ($436/mt) FAS, narrowing the range of prices for ex-Japan H2 scrap to JPY 48,000-49,000/mt ($432-445/mt) FOB.