Starting from on August 18, the major EAF-based steel producer in Japan, Tokyo Steel, has continued to announce increases for its local scrap procurement prices, this time by JPY 1,000-2,000/mt, effective as of September 1. As the major players in the international market are increasing their bids for Japanese scrap, it is observed that FAS-based quotations are also moving up, supporting the uptrend of the local Japanese scrap market.
After the $15-29/mt increase, Tokyo Steel’s general range for H2 grade scrap is now at JPY 46,000-49,500/mt ($332-357/mt) depending on the mill. The Kyushu plant is still representing the higher end of the prices, while the lower end of the price range is still announced for Takamatsu.
Tokyo Steel’s general range for shindachi scrap is currently at JPY 48,000-51,500/mt ($346-372/mt). Th dollar-based prices have increased by $15/mt on the lower end and by $12/mt on the upper end. All prices in question are delivered and effective as of September 1. Exchange rate fluctuations are taken into consideration when calculating the dollar-based price changes.
Meanwhile, Japanese export scrap prices have continued to move up. As of August 24, Kanto Bay FAS prices for H2 scrap are in the range of JPY 48,000-50,000/mt ($346-361/mt), corresponding to JPY 49,000-51,000/mt ($353-368/mt) FOB. This level is $22-30/mt higher than the Japanese scrap export prices reported last week. Meanwhile, HS scrap prices are at JPY 50,000-52,000/mt ($361-375/mt), up by $26/mt week on week, and shindachi scrap prices are at JPY 48,500-50,000/mt ($344-361/mt) up by $9-19/mt, both Kanto Bay FAS.
|
Plant |
H2 |
Shindachi |
||
|
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
|
Tahara |
48,500 |
+1,500 |
50,500 |
+1,500 |
|
Nagoya |
47,500 |
+2,000 |
- |
- |
|
Okayama |
49,000 |
+2,000 |
51,000 |
+2,000 |
|
Kyushu |
49,500 |
+1,500 |
51,500 |
+1,500 |
|
Utsunomiya |
48,000 |
+1,000 |
49,500 |
+1,000 |
|
Takamatsu |
46,000 |
+2,000 |
48,000 |
+2,000 |
$1 = JPY 138.66