Leading Japanese EAF-based steel producer Tokyo Steel has continued to cut its domestic scrap purchase prices, with its latest cut being the ninth one announced this month. The slow demand received from export markets is still exerting pressure on local scrap prices.
Tokyo Steel’s general range for H2 grade scrap has declined by JPY 500-1,000/mt to JPY 38,500-40,500/mt ($267-284/mt) depending on the mill. The dollar-based equivalent has moved down by $4/mt on the lower end and by $1/mt on the upper end due to the sharp appreciation of the Japanese yen against the US dollar.
Shindachi scrap prices of Tokyo Steel have settled at JPY 40,000-41,500/mt ($280-291/mt) delivered, reduced by JPY 500-1,000/mt for all plants. The dollar-based prices have moved down by $1/mt from the levels announced on September 20. The new price levels are effective as of September 27.
Plant |
H2 scrap |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY/mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
40,000 |
-1,000 |
41,000 |
-1,000 |
Nagoya |
38,500 |
-1,000 |
- |
- |
Okayama |
40,500 |
-1,000 |
41,500 |
-500 |
Kansai |
39,500 |
-1,500 |
- |
- |
Takamatsu |
39,500 |
-500 |
40,500 |
-500 |
Kyushu |
40,500 |
-500 |
41,500 |
-500 |
Utsunomiya |
38,500 |
-500 |
40,000 |
-500 |
$1 = JPY 142.66