Major Japanese EAF-based steel producer Tokyo Steel has announced a scrap purchase price decrease for four out of five of its assets on March 12. Prices have been lowered by JPY 500/mt ($4.6/mt) this time.
The H2 scrap purchase price for the Utsunomiya plant has come to JPY 41,500/mt ($381/mt), and so together with the previous cut at this plant earlier this week the price level is now JPY 1,000/mt ($9/mt) lower than last week.
Prices for the Tahara Works and Okayama Works are at JPY 42,000/mt ($386/mt) and JPY 41,000/mt ($376/mt). At Takamatsu, the H2 level has been lowered to JPY 40,000/mt ($367/mt). Prıces for Kyushu have remained unchanged at JPY 41,000/mt. All prices are delivered and effective from March 13.
The SteelOrbis reference price for ex-Japan H2 scrap has stayed at JPY 42,000-44,000/mt ($386-404/mt) FOB. The lower end corresponds to the tradable level to S. Korea, while the higher end corresponds to the latest deals to Vietnam. A few lots have been booked at $440-445/mt CFR for H2 to Vietnam this week.