The leading Japanese EAF-based steel producer Tokyo Steel has dropped its local scrap procurement prices today, May 22, only in the Kansai region. This is the first downward correction announced by Tokyo Steel since the beginning of the year.
The general price range for H2 grade scrap has moved down by JPY 500/mt on the lower end as compared to the levels recorded on May 13 to JPY 53,500-54,000/mt ($336-339/mt), depending on the mill. Including the changes in exchange rates, the dollar-based quotations have decreased by $7/mt on the lower end and by $4/mt on the upper end.
Also, Tokyo Steel’s shindachi scrap prices have remained stable in the range of JPY 55,000-59,000/mt ($346-371/mt) delivered, down by $3/mt in dollar terms. The prices shared in the table below are effective as of May 23.
| Plant | H2 scrap | Shindachi | ||
| Price (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | |
| Tahara | 54,000 | 0 | 59,000 | 0 |
| Nagoya | 54,000 | 0 | - | 0 |
| Okayama | 54,000 | 0 | 55,000 | 0 |
| Kansai | 53,500 | -500 | - | - |
| Takamatsu | Suspended | - | Suspended | - |
| Kyushu | 54,000 | 0 | 55,000 | 0 |
| Utsunomiya | 54,000 | 0 | 55,500 | 0 |
| Tokyo Bay | 54,000 | 0 | 59,000 | 0 |
$1 = JPY 159.11
