The leading Japanese EAF-based steel producer Tokyo Steel has announced reductions in its scrap purchase prices today, August 21, cutting them by JPY 500-1,000/mt for all assets, effective from August 22. Market sources think that the reductions are the result of lower demand from Japan’s scrap export markets such as Vietnam and South Korea.
Tokyo Steel’s general range for H2 grade scrap has settled at JPY 45,500-46,500/mt ($312-319/mt) depending on the mill. The dollar-based equivalent has decreased by $14/mt. It is observed that producer’s price cut for its Kyushu yard is lower than for its other assets.
Shindachi scrap prices of Tokyo Steel have settled at JPY 46,500-48,000/mt ($319-329/mt) delivered, while the dollar-based prices have moved down by $14-15/mt.
Plant |
H2 scrap |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
46,500 |
-1,000 |
47,500 |
-1,000 |
Nagoya |
45,500 |
-1,000 |
- |
- |
Okayama |
46,500 |
-1,000 |
47,500 |
-1,000 |
Kansai |
46,500 |
-1,000 |
- |
- |
Takamatsu |
45,500 |
-1,000 |
46,500 |
-1,000 |
Kyushu |
46,500 |
-500 |
47,500 |
-500 |
Utsunomiya |
46,500 |
-1,000 |
48,000 |
-1,000 |
$1 = JPY 145.97