The leading Japanese EAF-based steel producer Tokyo Steel has continued to cut its domestic scrap purchase prices. The new price levels will be effective as of September 21. The lack of interest in Japanese scrap overseas and the economic uncertainties in the region contributed to the producer’s decision. The downtrend of the Asian scrap market has continued this week, with both Taiwan and Vietnam receiving lower offers from Japan.
Tokyo Steel’s general range for H2 grade scrap has declined by JPY 1,000-1,500/mt to JPY 39,000-41,000/mt ($271-285/mt) depending on the asset. The dollar-based equivalent has moved down by $13-18/mt due to the sharp depreciation of the Japanese yen against the US dollar.
Shindachi scrap prices of Tokyo Steel have settled at JPY 40,500-42,000/mt ($281-292 295-305/mt) delivered, down by JPY 1,000/mt for all plants. The dollar-based prices have moved down by $13-14/mt from the levels announced for September 13.
Plant |
H2 scrap |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
41,000 |
-1,000 |
42,000 |
-1,000 |
Nagoya |
39,500 |
-1,000 |
- |
- |
Okayama |
41,000 |
-1,000 |
42,000 |
-1,000 |
Kansai |
40,500 |
-1,500 |
- |
- |
Takamatsu |
40,000 |
-1,000 |
41,000 |
-1,000 |
Kyushu |
41,000 |
-1,000 |
42,000 |
-1,000 |
Utsunomiya |
39,000 |
-1,000 |
40,500 |
-1,000 |
$1 = JPY 144.07