The leading Japanese EAF-based steel producer Tokyo Steel has increased its local scrap purchase prices once more today, March 31, following the hikes announced on March 18 and March 20. The upward push in the international scrap market continues this week amid further escalation in the US-Israel war on Iran. The consecutive increases in Tokyo Steel’s prices since March 12 have consolidated the producer’s H2 grade price. It is heard that Japanese EAF-based mills are trying to secure scrap and prevent exports, resulting in price increases in Japan.
The general price range for H2 grade scrap has moved up by JPY 1,500-2,000/mt as compared to the levels recorded on March 12 to JPY 50,000/mt ($313/mt) depending on the mill. Including the changes in the exchange rates, the dollar-based quotations have increased by $7-10/mt.
On the other hand, Tokyo Steel’s shindachi scrap prices have increased by JPY 2,000-4,500/mt to the range of JPY 51,000-55,000/mt ($320-345/mt) delivered, up by $7-11/mt on dollar basis. The prices shared in the table below are effective as of March 31.
| Plant | H2 scrap | Shindachi | ||
| Price (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | |
| Tahara | 50,000 | +2,000 | 55,000 | +4,500 |
| Nagoya | 50,000 | +2,000 | - | |
| Okayama | 50,000 | +2,000 | 51,000 | +2,000 |
| Kansai | 50,000 | +2,000 | - | - |
| Takamatsu | Suspended | Suspended | ||
| Kyushu | 50,000 | +2,000 | 51,000 | +2,000 |
| Utsunomiya | 50,000 | +2,000 | 51,500 | +2,000 |
| Tokyo Bay | 50,000 | +1,500 | 55,000 | +1,500 |
$1 = JPY 159.49
