- Japanese EAF mills to undertake maintenance in Sep’25
- Vietnamese market largely unaffected by Typhoon Kajiki
Japan’s H2 scrap export prices remained stable w-o-w, supported by moderate demand from key buyer Vietnam. BigMint’s weekly assessment placed H2 at JPY 42,000/t ($283/t) FOB Tokyo Bay, unchanged w-o-w.
H2 offers to Vietnam were steady at $320-325/t CFR, with buyers’ tradable levels at $310-315/t CFR Vietnam. Sources pointed to moderate H2 demand despite sluggish construction activity. Typhoon Kajiki mainly affected northern and central Vietnam, with limited impact on the scrap market and only short-term disruptions expected.
Tokyo Steel cut H2 scrap prices by JPY 500/t ($3/t) at Okayama, Kansai, and Takamatsu plants from 27 August. Revised prices are as follows:
- Okayama, Kansai: JPY 39,000/t
- Takamatsu: JPY 37,000/t.
Key market updates
Vietnam: The Vietnamese deep-sea bulk market stayed subdued this week, with limited spot activity and a wide bid-offer gap due to a sluggish construction sector. However, there was decent demand for H2. Following Tokyo Steel’s recent price cuts, H2 bids were at $315/t CFR Vietnam.
A trader noted that a northern steelmaker, idle in recent years, is preparing to restart operations after consolidating with a larger mill, which could support scrap demand in the medium term.
Taiwan: H2 delivered to Taiwan remained steady w-o-w, with Japan-origin material at $315/t CFR. Market sources noted stable prices amid muted local demand, with mini-mills such as Feng Hsin maintaining cautious buying strategies.
Outlook
Looking ahead, a Japan-based mill source indicated that several EAF mills in the Kansai region plan long-term maintenance in September, which may reduce scrap demand by tens of thousands of tonnes compared with August. Lower Tokyo Steel prices seem to reflect this muted demand dynamic.
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