On February 27, SteelOrbis reported H2 scrap buying prices at three of Japan’s Tokyo Steel sites: Okayama site was reportedly at JPY 31,000/mt ($279/mt), the Tahara site at JPY 33,500/mt ($302/mt), and the Utsunomiya site at JPY 34,250/mt ($309/mt), all prices delivered to customer.
Sources inform SteelOrbiss that on March 1, Tokyo Steel increased scrap steel prices for the third time in a week and for the seventh consecutive time since it began to increase prices in early February. Prices are reportedly up JPY 500/mt again across the three sites. The Okayama site is now reportedly at JPY 31,500/mt ($282/mt), the Tahara site at JPY 34,000/mt ($304/mt), and the Utsunomiya site at JPY 34,750/mt ($311/mt), all prices delivered to customer. Prices increased by $3/mt at Okayama and $2/mt at both the Tahara and Utsunomiya sites.
USD = JPY 111.02 (Feb 27)
USD = JPY 111.73 (Mar 4)