The leading Japanese EAF steel producer Tokyo Steel has announced another cut in its scrap purchase prices on August 1, cutting them by JPY 500-1,000/mt for all assets, effective from August 2. However, on dollar basis, prices have not declined due to currency fluctuations. So, in the export scrap market, sentiment has remained relatively stable.
Tokyo Steel’s general range for H2 grade scrap has settled at JPY 47,500-50,000/mt ($314-331/mt) depending on the mill, with the lower end lowered by JPY 500/mt, while the higher end, representing Utsunomiya in the Kanto area, most popular for exports, has decreased by JPY 1,000/mt. However, the dollar-based equivalent has not changed for the assets with the highest decline in JPY prices, while for mills like Takamatsu, Kansai and Kyushu the dollar-based price has even risen by up to $2/mt due to the further appreciation of the Japanese yen over the past week.
Shindachi scrap prices of Tokyo Steel have settled at JPY 48,500-51,500/mt ($321-341/mt) delivered, while the dollar-based prices are stable or up by nearly $3/mt from late last week.
Plant |
H2 scrap |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
49,500 |
-1,000 |
50,500 |
-1,000 |
Nagoya |
48,500 |
-1,000 |
- |
- |
Okayama |
48,500 |
-500 |
49,500 |
-500 |
Kansai |
49,000 |
-500 |
- |
- |
Takamatsu |
47,500 |
-500 |
48,500 |
-500 |
Kyushu |
48,500 |
-500 |
49,500 |
-500 |
Utsunomiya |
50,000 |
-1,000 |
51,500 |
-1,000 |
$1 = JPY 151,053