Japan’s Tokyo Steel has reportedly increased its scrap buying prices. On January 7, SteelOrbis reported that the Okayama site decreased its scrap buying price at JPY 27,500/mt ($253/mt) delivered to customer. It was reportedly the lowest purchase price for H2 scrap compared to Tokyo Steel’s other sites which were estimated by a source at $280-290/mt (JPY 30,408-31,494/mt) delivered to customer.
In the past two weeks, H2 prices at three of its sites have reportedly been increased by JPY 1,000/mt. The Okayama site is now estimated to be buying H2 scrap at JPY 28,500/mt ($258/mt), Tahara site at JPY 31,500/mt ($285/mt), and Utsunomiya site at JPY 32,250/mt ($292/mt), all prices delivered to customer. The buying price at the Okayama site increased $5/mt while the average price of the other two sites is $289/mt.
Japanese domestic H2 scrap prices have remained stable for several weeks, but scrap purchase price increases by Tokyo Steel, Japan’s largest EAF, historically is an early indicator of potential increases in the domestic market.
USD = JPY 108.60 (Jan 7)
USD = JPY 110.43 (Feb 15)