The leading Japanese EAF-based steel producer Tokyo Steel has continued to drop its domestic scrap prices, with its new prices to be effective as of September 14. The low steel demand received from Japan’s export markets and the sharp price drop observed in the Kanto scrap tender has led the producer to revise its prices downward.
Tokyo Steel’s general range for H2 grade scrap has declined by JPY 1,000-2,700/mt to JPY 40,000-42,000/mt ($289-298/mt) depending on the mill. The dollar-based equivalent has moved down by $4-8/mt due to the fluctuations of the Japanese yen-US dollar exchange rate.
Shindachi scrap prices of Tokyo Steel have settled at JPY 41,500-43,000/mt ($295-305/mt) delivered, down JPY 1,000-1,500/mt for all plants. The dollar-based prices have moved down by $6-9/mt from the levels announced for September 11.
Plant |
H2 scrap |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
42,000 |
-1,000 |
43,000 |
-1,000 |
Nagoya |
40,500 |
-2,700 |
- |
- |
Okayama |
42,000 |
-1,000 |
43,000 |
-1,000 |
Kansai |
42,000 |
-1,000 |
- |
- |
Takamatsu |
41,000 |
-1,000 |
42,000 |
-1,000 |
Kyushu |
42,000 |
-1,000 |
43,000 |
-1,000 |
Utsunomiya |
40,000 |
-1,500 |
41,500 |
-1,500 |
$1 = JPY 140.85