The leading Japanese EAF steel producer Tokyo Steel announced three price cuts last weekend and this week, cutting domestic scrap procurement quotations by JPY 500-1,500/mt for all assets. The last price revision was done today, effective as of September 4. The declining demand for Japanese scrap overseas gives Tokyo Steel leverage to exert more pressure on local scrap prices.
Tokyo Steel’s general range for H2 grade scrap has declined by JPY 500/mt to JPY 44,500-45,500/mt ($305-313/mt) depending on the mill. The dollar-based equivalent has moved down by $6-7/mt since the report published by SteelOrbis on August 27.
Shindachi scrap prices of Tokyo Steel have settled at JPY 45,500-46,500/mt ($313-320/mt) delivered, while the dollar-based prices have moved down by $6-9/mt since last week.
Plant |
H2 scrap |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
45,500 |
-500 |
46,500 |
-500 |
Nagoya |
44,000 |
-1,000 |
- |
- |
Okayama |
45,500 |
-500 |
46,500 |
-500 |
Kansai |
45,500 |
-500 |
- |
- |
Takamatsu |
44,500 |
-500 |
45,500 |
-500 |
Kyushu |
45,500 |
-500 |
46,500 |
-500 |
Utsunomiya |
44,500 |
-1,500 |
46,000 |
-1,500 |
$1 = JPY 145.54