The leading Japanese EAF steel producer Tokyo Steel has increased its local scrap purchase prices by up to JPY 1,500/mt after a long pause with the last revision was on June 16. This move has been expected after higher prices have been settled in the Kanto tender, and as overall supply volume may go down in July as usually.
Tokyo Steel’s general range for H2 grade scrap has settled at JPY 47,500-50,000/mt ($334-352/mt) depending on the mill, adding JPY 1,000-1,500/mt from the previous levels. The dollar equivalent has added just $4/mt, and it is smaller than it could be due to continued depreciation of Japanese yen.
The highest rise has been seen for Utsunomiya plant, which is usually the most important mill to compare with export prices. “After Kanto tender, Tokyo Steel raised its list price by JPY 1,500/mt at Utsunomiya plant. I think some shippers and traders will raise the collection price at Tokyo Bay tomorrow,” a Japanese source said.
Shindachi scrap prices of Tokyo Steel have also increased by JPY 1,000-1,500/mt to JPY 48,500-51,500/mt ($341-363/mt), which shows an improvement by $4-8/mt on dollar-basis.
All the prices in question are delivered and effective as of July 12.
$1= JPY 142.038
|
Plant |
H2 |
Shindachi |
||
|
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
|
Tahara |
49,000 |
+500 |
50,000 |
+500 |
|
Nagoya |
48,000 |
+500 |
- |
- |
|
Okayama |
49,500 |
+1,000 |
50,500 |
+1,000 |
|
Kyushu |
49,500 |
+1,000 |
50,500 |
+1,000 |
|
Utsunomiya |
50,000 |
+1,500 |
51,500 |
+1,500 |
|
Takamatsu |
47,500 |
+1,000 |
48,500 |
+1,000 |