On November 9, SteelOrbis reported Tokyo Steel decreased the purchase price of H2 scrap to JPY 35,000/mt ($308/mt) in the Okayama plant, JPY 34,500/mt ($303/mt) in the Tahara plant, and JPY 35,500/mt ($312/mt) at Utsunomiya site, all prices delivered to the customer.
Sources close to the market inform SteelOrbis that Tokyo Steel has since reduced the purchase price of H2 scrap for the fourth time since late October. The three sites have declined prices to JPY 34,000/mt ($299/mt) in the Okayama plant, JPY 33,500/mt ($294/mt) in the Tahara plant, and JPY 34,500/mt ($303/mt) at the Utsunomiya site, all prices delivered to the customer. Compared to the previous range, prices have declined $9/mt at all three sites.
USD = JPY 113.75 (Nov 9)
USD = JPY 113.82 (Nov 12)