The leading Japanese EAF-based steel producer Tokyo Steel has retracted the previous cut in its local scrap purchase prices made on November 1. Following the rise recorded in the Kanto scrap export tender, Tokyo Steel has increased its prices, a move which has been reflected strongly in US dollar-based prices due to the appreciation of the Japanese yen. Over the past month, the Japanese yen has gained strength significantly from JPY 151.0 to the dollar to 144.92.
Tokyo Steel’s general range for H2 grade scrap has increased by JPY 500/mt and is now at JPY 48,000-51,000/mt ($333-354/mt) depending on the mill. The dollar equivalent has increased by $18-19/mt due to fluctuations in the Japanese yen-US dollar exchange rate.
Shindachi scrap prices of Tokyo Steel have also moved up by JPY 500/mt, to JPY 49,000-52,500/mt ($340-365/mt), increasing by $19-24/mt on US dollar basis. All the prices in question are delivered and effective as of December 9.
|
Plant |
H2 |
Shindachi |
||
|
Price (JPY/mt) |
Price change (JPY /mt) |
Price (JPY/mt) |
Price change (JPY/mt) |
|
|
Tahara |
51,000 |
+500 |
52,000 |
+500 |
|
Nagoya |
50,000 |
+500 |
- |
- |
|
Okayama |
51,000 |
+500 |
52,000 |
+500 |
|
Kyushu |
51,000 |
+500 |
52,000 |
+500 |
|
Utsunomiya |
51,000 |
+500 |
52,500 |
+500 |
|
Takamatsu |
48,000 |
+500 |
49,000 |
+500 |
$1 = JPY 144.92