The leading Japanese EAF-based steel producer Tokyo Steel has announced an increase in its domestic scrap purchase prices, the first one since early June. The announcement came after the price increase observed in the Kanto scrap export tender in Japan. However, the dollar-based prices of Tokyo Steel did not follow the same trend as the yen-based prices due to the strong depreciation of the Japanese yen since Tokyo Steel’s previous price adjustment made on September 27. The Japanese yen-US dollar exchange rate was at $1 = JPY 142.66 at that time.
Tokyo Steel’s general range for H2 grade scrap has moved up by JPY 1,000-1,500/mt to 40,000-41,500/mt ($269-279/mt) depending on the mill. However, due to the strong depreciation of the Japanese yen against the US dollar, the dollar-based equivalent has moved up by $2/mt on the lower end and declined by $5/mt on the upper end.
Shindachi scrap prices of Tokyo Steel have settled at JPY 41,000-43,000/mt ($276-289/mt) delivered, increased by JPY 1,000-1,500/mt for all plants. The dollar-based prices have moved down by $4/mt on the lower end and by $2/mt on the upper end from the levels announced for September 27. The new price levels are effective as of on October 10.
Plant |
H2 scrap |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
41,500 |
+1,500 |
42,500 |
+1,500 |
Nagoya |
40,000 |
+1,500 |
- |
- |
Okayama |
41,500 |
+1,000 |
42,500 |
+1,000 |
Kansai |
40,500 |
+1,000 |
- |
- |
Takamatsu |
40,000 |
+500 |
41,000 |
+500 |
Kyushu |
40,500 |
0 |
41,500 |
0 |
Utsunomiya |
41,500 |
+2,000 |
43,000 |
+3,000 |
$1 = JPY 148,57