The leading Japanese EAF-based steel producer Tokyo Steel has increased its scrap procurement prices for its Utsunomiya plant, after the drop announced on January 26. Germany has risen to third place on the list of the world’s biggest economies, with Japan entering a recession. According to sources, this raises questions about the Japanese Central Bank’s monetary policies, which at present are on the loose side. In the current context, the price increase announced by Tokyo Steel did not result in a rise in dollar-based quotations, instead they decreased.
Tokyo Steel’s general range for H2 grade scrap has remained unchanged at JPY 50,000-53,000/mt ($333-353/mt) depending on the mill. The dollar equivalent has decreased by $6/mt due to the ongoing depreciation of the Japanese yen against the US dollar.
Shindachi scrap prices of Tokyo Steel have increased by JPY 500/mt on the upper end to JPY 51,000-54,500/mt ($340-363/mt), also decreasing by $5/mt on the lower end and by $3/mt on the upper end on dollar-basis. All the prices in question are delivered and effective as of today, February 15.
Plant |
H2 |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
53,000 |
0 |
54,000 |
0 |
Nagoya |
52,000 |
0 |
- |
0 |
Okayama |
53,000 |
0 |
54,000 |
0 |
Kyushu |
53,000 |
0 |
54,000 |
0 |
Utsunomiya |
53,000 |
+2,000 |
54,500 |
+2,000 |
Takamatsu |
50,000 |
0 |
51,000 |
0 |
$1 = JPY 150.06