The leading Japanese EAF-based steel producer Tokyo Steel has increased its local scrap procurement prices today, April 11, following the increase in the Kanto scrap export tender. Market sources report that the uptrend of prices is the result of Japanese mills’ appetite to secure scrap flow to their yards and, with the Kanto tender price reaching a 1.5-year high, Japanese mills are continuing to increase their scrap purchase prices. This is the second hike announced by Tokyo Steel this week, with the total price increase reaching JPY 2,500/mt or $17/mt.
The general price range for H2 grade scrap has moved up by JPY 1,500/mt as compared to the levels recorded on April 7 to JPY 52,500/mt ($330/mt) depending on the mill. Including the changes in the exchange rates, the dollar-based price has increased by $11/mt.
Also, Tokyo Steel’s shindachi scrap prices have increased by JPY 1,500/mt to the range of JPY 53,500-57,500/mt ($336-361/mt) delivered, up by $11/mt on dollar basis. The prices shared in the table below are effective as of April 10.
| Plant | H2 scrap | Shindachi | ||
| Price (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | Price change (JPY/mt) | |
| Tahara | 52,500 | +1,500 | 57,500 | +1,500 |
| Nagoya | 52,500 | +1,500 | - | +1,500 |
| Okayama | 52,500 | +1,500 | 53,500 | +1,500 |
| Kansai | 52,500 | +1,500 | - | +1,500 |
| Takamatsu | Suspended | - | Suspended | - |
| Kyushu | 52,500 | +1,500 | 53,500 | +1,500 |
| Utsunomiya | 52,500 | +1,500 | 54,000 | +1,500 |
| Tokyo Bay | 52,500 | +1,500 | 57,500 | +1,500 |
$1 = JPY 159.17
