The main EAF-based steel producer in Japan, Tokyo Steel, has continued to cut its local scrap procurement prices, announcing a decline of JPY 500/mt for all its plants. The producer was expected to lower its prices further this week as SteelOrbis reported yesterday, November 16, and this decrease in the local Japanese scrap market may continue in the coming days since scrap exports are very weak.
Tokyo Steel’s general range for H2 grade scrap is now at JPY 46,000-47,500/mt ($330-341/mt) depending on the mill. While the fluctuation of the Japanese yen against the US dollar continues, Tokyo Steel’s dollar-based prices decreased only by $2/mt. The lowest prices are still at the Takamatsu plant, while the Utsunomiya plant alone represents the upper end.
Tokyo Steel’s general range for shindachi scrap is currently at JPY 48,000-49,000/mt ($344-351/mt), moving down by $4/mt. All prices in question are delivered and effective as of November 18. 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 |
47,000 |
-500 |
48,000 |
-500 |
Nagoya |
46,500 |
-500 |
- |
- |
Okayama |
47,000 |
-500 |
49,000 |
-500 |
Kyushu |
47,000 |
-500 |
49,000 |
-500 |
Utsunomiya |
47,500 |
-500 |
49,000 |
-500 |
Takamatsu |
46,000 |
-500 |
48,000 |
-500 |
$1 = JPY 139.47
