The leading Japanese EAF steel producer Tokyo Steel has decreased its scrap purchase price only for its Utsunomiya plant, by JPY 1,000/mt as compared to March 12. The fall in Tokyo Steel’s dollar-based price was steeper due to the depreciation of the Japanese yen against the US dollar. However, the Japanese yen and South Korean won recorded some strength after the joint announcement made by their finance ministers and US treasury secretary Janet Yellen.
Despite its announcement, Tokyo Steel’s general range for H2 grade scrap has remained at JPY 50,500-51,500/mt ($327-334/mt) depending on the mill, while the dollar equivalent has declined by $17/mt since March 12.
Shindachi scrap prices of Tokyo Steel have moved down from JPY 51,500-53,000/mt ($351-361/mt) to JPY 51,500-52,500/mt ($334-340/mt). All the prices in question are delivered and effective as of March 19.
This week, Tokyo Bay FAS-based prices for H2 grade scrap have remained at JPY 51,000/mt ($330/mt). This level shows that FOB prices are at JPY 52,000/mt ($337/mt) for this grade. Tokyo Bay FAS prices for HS grade scrap moved up to JPY 55,000/mt ($356/mt), while prices for shindachi scrap are at JPY 54,000/mt ($350/mt) FAS.
|
Plant |
H2 scrap |
Shindachi |
||
|
Price (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
Price change (JPY/mt) |
|
|
Tahara |
51,500 |
0 |
52,500 |
0 |
|
Nagoya |
50,500 |
0 |
- |
- |
|
Okayama |
51,500 |
0 |
52,500 |
0 |
|
Kyushu |
51,500 |
0 |
52,500 |
0 |
|
Utsunomiya |
50,500 |
-1,000 |
52,500 |
-1,000 |
|
Takamatsu |
50,500 |
0 |
51,500 |
0 |
$1 = JPY 154.39