Following three previous consecutive cuts in scrap purchase prices announced by the leading Japanese EAF-based steel producer Tokyo Steel, it has announced a fourth price decrease today, September 5. The price reduction was JPY 500/mt this time for all assets, effective as of September 6. Tokyo Steel has not increased its domestic scrap prices since June 26, when its general price range for H2 grade was JPY 50,000-52,500/mt ($312-327/mt), with the Japanese yen-US dollar exchange rate at $1 = JPY 160.35.
Tokyo Steel’s general range for H2 grade scrap has declined by JPY 500/mt to JPY 43,500-45,000/mt ($304-314/mt) depending on the mill. The dollar-based equivalent has moved down by $1/mt on the lower end but moved up by $1/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 45,000-46,000/mt ($314-321/mt) delivered, while the dollar-based prices have moved up by $1/mt since Tuesday, September 3.
Plant |
H2 scrap |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
45,000 |
-500 |
46,000 |
-500 |
Nagoya |
43,500 |
-500 |
- |
- |
Okayama |
45,000 |
-500 |
46,000 |
-500 |
Kansai |
45,000 |
-500 |
- |
- |
Takamatsu |
44,000 |
-500 |
45,000 |
-500 |
Kyushu |
45,000 |
-500 |
46,000 |
-500 |
Utsunomiya |
44,000 |
-500 |
45,500 |
-500 |
$1 = JPY 143.14