The leading Japanese EAF steel producer Tokyo Steel has decreased its scrap procurement prices for all plants by JPY 500/mt. However, since the Japanese yen has gained some strength against the US dollar, dollar-based prices have increased as compared to the previous levels announced on March 1. A Japanese market players stated that there have been disruptions of scrap generation due to slower car manufacturing, providing some support for H2 prices at a time when demand from traditional importers such as South Korea and Bangladesh is lower.
Tokyo Steel’s general range for H2 grade scrap has declined to JPY 51,500-52,500/mt ($348-356/mt) depending on the mill. As compared to the levels announced on March 1, the dollar equivalent has increased by $3-4/mt due to the ongoing appreciation of the Japanese yen against the US dollar.
Shindachi scrap prices of Tokyo Steel have moved down to JPY 52,500-54,000/mt ($355-366/mt), also increasing by $3-4/mt on dollar basis. 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 |
52,500 |
-500 |
53,500 |
0 |
|
Nagoya |
51,500 |
-500 |
- |
0 |
|
Okayama |
52,500 |
-500 |
53,500 |
0 |
|
Kyushu |
52,500 |
-500 |
53,500 |
-500 |
|
Utsunomiya |
52,500 |
-500 |
54,000 |
-500 |
|
Takamatsu |
51,500 |
-500 |
52,500 |
-500 |
$1 = JPY 147.84