The leading Japanese EAF-based steel producer Tokyo Steel has increased its local scrap procurement prices by JPY 2,000-2,500/mt today, March 11, following the rise recorded in the Kanto scrap export tender. The scrap shortage experienced in Japan for a while now has been impacting not only exports but also local mills, sources report.
The general price range for H2 grade scrap has moved up by JPY 2,000-2,5000/mt as compared to the levels recorded on March 6 to JPY 48,000-48,500/mt ($303-306/mt) depending on the mill. Taking into account the changes in the exchange rate, the dollar-based quotations have increased by $10-14/mt.
On the other hand, Tokyo Steel’s shindachi scrap prices have increased by JPY 2,000/mt to the range of JPY 49,000-53,500/mt ($309-338/mt) delivered, up by $10-11/mt on dollar basis. The prices shared in the table below are effective as of March 12.
| Plant | H2 scrap | Shindachi | ||
| Price (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | |
| Tahara | 48,000 | +2,000 | 50,500 | +2,000 |
| Nagoya | 48,000 | +2,000 | - | |
| Okayama | 48,000 | +2,000 | 49,000 | +2,000 |
| Kansai | 48,000 | +2,500 | - | - |
| Takamatsu | Suspended | Suspended | ||
| Kyushu | 48,000 | +2,000 | 49,000 | +2,000 |
| Utsunomiya | 48,000 | +2,000 | 49,500 | +2,000 |
| Tokyo Bay | 48,500 | +2,000 | 53,500 | +2,000 |
$1 = JPY 158.36
