After a long pause, the leading EAF steel producer in Japan, Tokyo Steel, has announced a hike in local scrap prices by JPY 2,000/mt ($15/mt) today, January 12, the first revision since the middle of December. Improved demand and better competitiveness with export prices may allow Tokyo Steel to attract volumes in the near future, SteelOrbis has learned from the market.
Tokyo Steel’s general range for H2 grade scrap has moved up to JPY 50,000-51,000/mt ($378-386/mt), depending on the mill. But the dollar-based price increase have been much bigger amid the appreciation of the Japanese yen, increasing by $30-31/mt compared to the previous levels seen on December 14.
The Shindachi scrap prices of Tokyo Steel have moved to the new range of JPY 52,000-53,000/mt ($393-401/mt), up $30-31/mt as well from the previous levels. All the prices in question are delivered and effective as of January 13. Exchange rate fluctuations are taken into consideration when calculating the dollar-based price changes.
“Tokyo steel raised its list price by JPY 2,000/mt after the Kanto tender. It will affect the Kanto bay FAS price from tomorrow. South Korean mills will also follow the movement,” a major Japanese trader said. The latest local prices in the Kanto area were at JPY 48,500-49,500/mt FAS, with HS prices at JPY 52,000/mt FAS on average and Shindachi prices at JPY 49,000-50,500/mt FAS.
|
Plant |
H2 |
Shindachi |
||
|
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
|
Tahara |
51,000 |
+2,000 |
52,000 |
+2,000 |
|
Nagoya |
50,500 |
+2,000 |
- |
- |
|
Okayama |
51,000 |
+2,000 |
53,000 |
+2,000 |
|
Kyushu |
51,000 |
+2,000 |
53,000 |
+2,000 |
|
Utsunomiya |
51,000 |
+2,000 |
52,500 |
+2,000 |
|
Takamatsu |
50,000 |
+2,000 |
52,000 |
+2,000 |
$1 = JPY 132.13