The new prices include four scrap prices on an fob Japan basis and one scrap price for Japanese H2 material on a cfr Vietnam basis.

Japan is Asia’s largest ferrous scrap exporting nation, and sells significant tonnages to key consumers in the region, including Vietnam, Taiwan and South Korea. Fastmarkets has noted the increasing numbers of steelmakers seeking greener steelmaking processes and looking to increase the usage of ferrous scrap in their raw material mix.

These new Japanese prices will bring about more price transparency and market information for subscribers. The addition of the prices, which will be published in line with IOSCO standards and benchmark regulations, will reinforce Fastmarkets’ position as the leading global price reporting agency for the Asia ferrous scrap markets.

The proposed price specifications are as follows:

Assessment: Steel scrap H2 Japan origin import, cfr Vietnam
Quality: Old steel of Japanese origin, sheared or cut to pieces measuring 3-6mm thick and no longer than 1.2 meters in any direction
Quantity: Minimum 5,000 tonnes
Location: cfr Vietnam port
Timing: Minimum one month shipment
Unit: USD/tonne
Publication: Weekly. Friday, 5-6pm Singapore time

Assessment: Steel scrap H2 export, fob Japan
Quality: Old steel, sheared or cut to pieces measuring 3-6mm thick and no longer than 1.2 meters in any direction
Quantity: Minimum 5,000 tonnes
Location: fob Tokyo Bay
Timing: Minimum one month shipment
Unit: Japanese yen/tonne
Publication: Weekly. Wednesday, 5-6pm Singapore time

Assessment: Steel scrap shredded export, fob Japan
Quality: Old steel scrap fragmentized into pieces no wider than 100mm and no longer than 200mm
Quantity: Minimum 5,000 tonnes
Location: fob Tokyo Bay
Timing: Minimum one month shipment
Unit: Japanese yen/tonne
Publication: Weekly. Wednesday, 5-6pm Singapore time

Assessment: Steel scrap Shindachi export, fob Japan
Quality: Bundled new steel scrap, generated during the manufacture of sheet fabricated products and measuring no more than 800mm in any direction
Quantity: Minimum 5,000 tonnes
Location: fob Tokyo Bay
Timing: Minimum one month shipment
Unit: Japanese yen/tonne
Publication: Weekly. Wednesday, 5-6pm Singapore time

Assessment: Steel scrap P&S export, fob Japan
Quality: Cut structural steel and clean steel plate scrap. Pieces measure no less than 13mm thick, no more than 1.5 meters long and 0.5 meters wide
Quantity: Minimum 5,000 tonnes
Location: fob Tokyo Bay
Timing: Minimum one month shipment
Unit: Japanese yen/tonne
Publication: Weekly. Wednesday, 5-6pm Singapore time

The consultation period for this proposed launch will end one month from the date of this pricing notice on Friday, February 7, 2020. The launch will take place, subject to market feedback, on Wednesday February 12, 2020.

To provide feedback on this price or if you would like to provide price information by becoming a data submitter to any of these prices, please contact Lee Allen by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Lee Allen, re: Japan scrap prices’.

To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.