After a long pause, the leading EAF-based steel producer in Japan, Tokyo Steel, has announced a hike in its local scrap purchase prices by JPY 2,000/mt today, March 9, its first revision since the middle of February. Despite the silence and resistance observed abroad for some time now as regards purchases of Japanese scrap, market players are currently convinced that the international scrap market is still strong. This sentiment is supported by the Kanto tender, which was closed at higher price levels compared to the previous month.
Tokyo Steel’s general range for H2 grade scrap has moved up to JPY 54,500-55,500/mt ($400-407/mt), depending on the mill. The dollar-based prices have decreased by $1-2/mt compared to the previous levels seen on February 10. The average Kanto tender price has reached JPY 55,438/mt ($407/mt) FAS, up by JPY 2,076/mt, though, due to the depreciation of the Japanese yen, the dollar-based price has declined by $1/mt from February.
The Shindachi scrap prices of Tokyo Steel have moved to the new range of JPY 56,500-57,500/mt ($414-422/mt), also down $2/mt from the previous levels. All the prices in question are delivered and effective as of March 10.
Exchange rate fluctuations are taken into consideration when calculating the dollar-based price changes.
Plant |
H2 |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
55,500 |
+2,000 |
56,500 |
+2,000 |
Nagoya |
55,000 |
+2,000 |
- |
- |
Okayama |
55,500 |
+2,000 |
57,500 |
+2,000 |
Kyushu |
55,500 |
+2,000 |
57,500 |
+2,000 |
Utsunomiya |
55,500 |
+2,000 |
57,000 |
+2,000 |
Takamatsu |
54,500 |
+2,000 |
56,500 |
+2,000 |
$1 = JPY 136.44