The leading Japanese EAF-based steel producer Tokyo Steel has increased its prices for the first time since the small upward revision it made on December 9 last year. Market participants report that there is an upward trend in the market, though the rising momentum is slow. The Asian market was waiting for the result of Japan’s Kanto scrap export tender, and prices recorded in the tender have increased as compared to the levels recorded in December, while the total tonnage changing hands has also increased.
Tokyo Steel’s general range for H2 grade scrap has increased by JPY 2,000/mt and is now at JPY 50,000-53,000/mt ($341-361/mt) depending on the mill. The dollar equivalent has increased by $7-8/mt due to fluctuations in the Japanese yen-US dollar exchange rate.
Shindachi scrap prices of Tokyo Steel have also moved up, by JPY 2,000/mt to JPY 51,000-54,000/mt ($348-368/mt), while also increasing by $7-8/mt on dollar-basis. All the prices in question are delivered and effective as of January 17.
|
Plant |
H2 |
Shindachi |
||
|
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
|
Tahara |
53,000 |
+2,000 |
54,000 |
+2,000 |
|
Nagoya |
52,000 |
+2,000 |
- |
- |
|
Okayama |
53,000 |
+2,000 |
54,000 |
+2,000 |
|
Kyushu |
53,000 |
+2,000 |
54,000 |
+2,000 |
|
Utsunomiya |
53,000 |
+2,000 |
54,500 |
+2,000 |
|
Takamatsu |
50,000 |
+2,000 |
51,000 |
+2,000 |
$1 = JPY 146.73