The leading Japanese EAF steel producer Tokyo Steel has decreased its scrap procurement prices for all plants by JPY 1,000/mt - a larger decrease compared to the previous negative correction by JPY 500/mt on March 7. This has been explained by the weak demand for scrap in Asia lately, reflected in the weak Kanto export tender results, while the situation in China has also remained very negative.
Tokyo Steel’s general range for H2 grade scrap has settled at JPY 50,500-51,500/mt ($344-351/mt) depending on the mill, while the dollar equivalent has declined by only $4-5/mt since March 7.
Shindachi scrap prices of Tokyo Steel have decreased to JPY 51,500-53,000/mt ($351-361/mt). All the prices in question are delivered and effective as of March 8.
|
Plant |
H2 scrap |
Shindachi |
||
|
Price (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
|
|
Tahara |
51,500 |
-1000 |
52,500 |
-1000 |
|
Nagoya |
50,500 |
-1000 |
- |
0 |
|
Okayama |
51,500 |
-1000 |
52,500 |
-1000 |
|
Kyushu |
51,500 |
-1000 |
52,500 |
-1000 |
|
Utsunomiya |
51,500 |
-1000 |
53,000 |
-1000 |
|
Takamatsu |
50,500 |
-1000 |
51,500 |
-1000 |
$1 = JPY 146.86