The leading Japanese EAF-based steel producer Tokyo Steel has increased its local scrap purchase prices in two separate steps as compared to its price levels announced on January 29. Market sources report that there is ongoing support for the upward movement of Japanese prices since availability is scarce while demand from Bangladesh for ex-Japan cargoes is lively. The strong sentiment seen in the international scrap market also supports the current positive mood in the Asian scrap market, sources add.
Tokyo Steel’s general price range for H2 grade scrap has increased by JPY 1,000/mt as compared to the levels recorded on January 29 to JPY 44,500-45,500/mt ($288-294) depending on the mill, while the dollar-based prices have increased by $5/mt over the same period taking the exchange rate into account.
On the other hand, Tokyo Steel’s shindachi scrap prices have moved up by JPY 1,500/mt on the lower end and by JPY 1,000/mt on the upper end to the range of JPY 46,000-48,000/mt ($297-310/mt) delivered, up by $8/mt on the lower end and by $5/mt on the upper end on dollar basis. The prices shared in the table below are effective as of February 21.
| Plant | H2 scrap | Shindachi | ||
| Price (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | |
| Tahara | 45,000 | +1,000 | 47,500 | +1,000 |
| Nagoya | 45,000 | +1,000 | - | |
| Okayama | 45,000 | +1,500 | 46,000 | +1,500 |
| Kansai | 44,500 | +1,000 | - | - |
| Takamatsu | Suspended | Suspended | ||
| Kyushu | 45,000 | +1,500 | 46,000 | +1,500 |
| Utsunomiya | 45,000 | +1,000 | 46,500 | +1,000 |
| Tokyo Bay | 45,500 | +1,000 | 48,000 | +1,000 |
$1 = JPY 154.72
