The leading Japanese EAF-based steel producer Tokyo Steel has increased its local scrap purchase prices today, April 7. The consolidation of its H2 grade scrap prices has continued with this latest adjustment. Japanese mills are trying to secure local scrap flow to their yards by increasing their purchase prices. Meanwhile, market sources say that the upcoming Kanto tender this week will be monitored closely. Tokyo Steel is planning to open another satellite yard in Takamatsu city in Kagawaga state. This yard will replace the current Takamatsu yard that suspended all transactions on December 26.
Tokyo Steel’s general price range for H2 grade scrap has moved up by JPY 1,000/mt as compared to the levels recorded on March 31 to JPY 51,000/mt ($319/mt), depending on the mill. Including the changes in the exchange rates, the dollar-based quotations have increased by $6/mt.
On the other hand, Tokyo Steel’s shindachi scrap prices have increased by JPY 1,000/mt to the range of JPY 52,000-56,000/mt ($325-350/mt) delivered, up by $5/mt on dollar basis. The prices shared in the table below are effective as of April 7.
| Plant | H2 scrap | Shindachi | ||
| Price (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | |
| Tahara | 51,000 | +1,000 | 56,000 | +1,000 |
| Nagoya | 51,000 | +1,000 | - | |
| Okayama | 51,000 | +1,000 | 52,000 | +1,000 |
| Kansai | 51,000 | +1,000 | - | - |
| Takamatsu | Suspended | Suspended | ||
| Kyushu | 51,000 | +1,000 | 52,000 | +1,000 |
| Utsunomiya | 51,000 | +1,000 | 52,500 | +1,000 |
| Tokyo Bay | 51,000 | +1,000 | 56,000 | +1,000 |
$1 = JPY 159.84
