The leading Japanese EAF steel producer Tokyo Steel has cut its domestic scrap prices for the fifth time this month, effective as of September 10. The decrease announced was another JPY 500/mt for six yards, while a JPY 200/mt rise has been announced for the Nagoya plant. Since August 30, purchase prices for H2 grade scrap have declined by JPY 2,000/mt in total. Tokyo Steel has not increased its overall domestic scrap purchase prices since June 26. As compared to late June, its H2 scrap prices have declined by JPY 7,000-8,500/mt in total or $13-21/mt. However, the decline on dollar-basis has been limited due to the appreciation of the Japanese yen against the US dollar from $1 = JPY 160.35 to $1 = JPY 143.67 since June.
Tokyo Steel’s general range for H2 grade scrap has declined by JPY 500/mt on the upper end to JPY 43,000-44,000/mt ($299-306/mt) depending on the mill. The dollar-based equivalent has moved down by $2/mt on the lower end and by $6/mt on the upper end due to the fluctuations of the Japanese yen-US dollar exchange rate.
Shindachi scrap prices of Tokyo Steel have settled at JPY 44,000-45,000/mt ($306-313/mt) delivered, reduced by JPY 500/mt for all plants. The lower end is still only represented by the Takamatsu yard. The dollar-based prices have moved down by $6/mt from the levels announced for September 6.
Plant |
H2 scrap |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
44,000 |
-500 |
45,000 |
-500 |
Nagoya |
43,200 |
+200 |
- |
- |
Okayama |
44,000 |
-500 |
45,000 |
-500 |
Kansai |
44,000 |
-500 |
- |
- |
Takamatsu |
43,000 |
-500 |
44,000 |
-500 |
Kyushu |
44,000 |
-500 |
45,000 |
-500 |
Utsunomiya |
43,000 |
-500 |
44,500 |
-500 |
$1 = JPY 143.67