The leading Japanese EAF-based steel producer Tokyo Steel has continued to increase its quotations for local scrap purchases. Despite the upward revision of the producer’s Japanese yen-based quotations, its dollar-based prices have moved down due to the depreciating yen. This latest price increase is the ninth consecutive upward revision of Tokyo Steel’s prices. When the increases started on September 12, the producer’s H2 grade scrap quotations were in the range of JPY 37,000-40,500/mt ($250-273/mt with the exchange rate at $1 = 147.92).
The general price range for H2 grade scrap has increased by JPY 500/mt to JPY 39,500-44,500/mt ($251-282/mt) depending on the mill. The Takamatsu region still represents the lower end of the general range. The Tahara, Okayama, Kyushu and Tokyo Bay plants still represent the upper end of the general price range. Including the changes in the exchange rates, the dollar-based quotations have moved down by $2/mt on the lower end and by $3/mt on the upper end as compared to the levels announced on November 11.
Tokyo Steel’s shindachi scrap prices have also increased, by JPY 500/mt, but only on the lower end to JPY 40,500-48,000/mt ($257-305/mt) delivered. On dollar basis, the lower end of prices has decreased by $2/mt and the higher end by $6/mt. The prices shared in the table below are effective as of November 20.
| Plant | H2 scrap | Shindachi | ||
| Price (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | |
| Tahara | 44,500 | +500 | 46,500 | +500 |
| Nagoya | 44,000 | +500 | - | |
| Okayama | 44,500 | +500 | 45,500 | +500 |
| Kansai | 44,000 | +500 | - | |
| Takamatsu | 39,500 | +500 | 40,500 | +500 |
| Kyushu | 44,500 | +500 | 45,500 | +500 |
| Utsunomiya | 43,500 | +500 | 45,000 | +500 |
| Tokyo Bay | 44,500 | +500 | 48,000 | 0 |
$1 = JPY 157.52