The leading Japanese EAF steel producer Tokyo Steel has cut its domestic scrap prices for the sixth time this month. The decrease announced was another JPY 1,000-1,700/mt for H2 grade scrap and was JPT 1,000/mt for shindachi grades, effective from September 12. This announcement of Tokyo Steel followed the sharp price reduction observed in the Kanto scrap export tender in Japan. As a result, since August 30 the total drop in Tokyo Steel’s H2 grade scrap prices now totals JPY 2,800-3,500/mt.
Tokyo Steel’s general range for H2 grade scrap has declined by JPY 1,500/mt on the lower end and by JPY 800/mt on the upper end to JPY 41,500-43,200/mt ($293-306/mt) depending on the mill. The dollar-based equivalent has moved down by $6/mt on the lower end and remained stable on the upper end due to the fluctuations of the Japanese yen-US dollar exchange rate.
Shindachi scrap prices of Tokyo Steel have settled at JPY 43,000-44,000/mt ($304-311/mt) delivered, reduced by JPY 1,000-1,500/mt for all plants. The dollar-based prices have moved down by $2/mt from the levels announced for September 9.
Plant |
H2 scrap |
Shindachi |
||
Price (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
|
Tahara |
43,000 |
-1,000 |
44,000 |
-1,000 |
Nagoya |
43,200 |
-1,700 |
- |
- |
Okayama |
43,000 |
-1,000 |
44,000 |
-1,000 |
Kansai |
43,000 |
-1,000 |
- |
- |
Takamatsu |
42,000 |
-1,000 |
43,000 |
-1,000 |
Kyushu |
43,000 |
-1,000 |
44,000 |
-1,000 |
Utsunomiya |
41,500 |
-1,500 |
43,000 |
-1,500 |
$1 = JPY 141.38