The leading Japanese EAF steel producer Tokyo Steel has increased its local scrap purchase prices by up to JPY 500-1,500/mt after a long pause. The steel producer’s previous price revision was on July 11, again upwards. The impact of rising international scrap prices has been felt in Japan after the holidays. Also, over the past three months, the gross domestic product (GDP) of Japan increased by six percent year on year. The profitability of Japanese car manufacturers such as Toyota, Honda, Nissan have also improved as demand from abroad is rising.
Tokyo Steel’s general range for H2 grade scrap has settled at JPY 48,000-51,000/mt ($329-350/mt) depending on the mill, adding JPY 500-1,500/mt from the previous levels. The dollar equivalent has declined by $5/mt on the lower end and by $2/mt on the upper end, due to the continued depreciation of the Japanese yen.
Shindachi scrap prices of Tokyo Steel have also increased, by JPY 500-1,500/mt to JPY 49,000-52,000/mt ($336-357/mt), on dollar basis declining by $5/mt on the lower end and by $6/mt on the upper end. All the prices in question are delivered and effective as of August 23.
|
Plant |
H2 |
Shindachi |
||
|
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
|
Tahara |
50,000 |
+1,000 |
51,000 |
+1,000 |
|
Nagoya |
49,000 |
+1,000 |
- |
- |
|
Okayama |
51,000 |
+1,500 |
52,000 |
+1,500 |
|
Kyushu |
51,000 |
+1,500 |
52,000 |
+1,500 |
|
Utsunomiya |
51,000 |
+1,000 |
52,500 |
+1,000 |
|
Takamatsu |
48,000 |
+500 |
49,000 |
+500 |
$1= JPY 145.69