Tokyo Steel has increased its local purchasing scrap prices by JPY 500/mt ($4.8/mt) for all five its assets, trying to attract volumes, which have been actively offering to the export market, where prices have been going up steadily.
On Monday, November 16, Tokyo Steel, one of the major EAF-based producers in Japan, announced further increase in its scrap purchase prices, though the previous hike was announced just on Friday. After the recent price revision, H2 scrap price for Tahara and Okayama Works increased to JPY 30,000/mt ($286/mt), while that for Kyushu went up to JPY 29,000/mt ($277/mt). Prices at Takamatsu have been set also at JPY 29,000/mt. The price level at the Utsunomiya plant has been the lowest - JPY 27,500/mt ($262/mt) after an increase by JPY 500/mt. All prices are delivered and effective from November 17.
The reference price for ex-Japan H2 has increased further recently – to JPY 30,500-31,500/mt ($290-300/mt) FOB with the lower end of the range hiking by JPY 500/mt from late last week. The increase has been attributed to the fresh deal to S. Korea. According to sources, Dongkuk Steel has bought H2 scrap at JPY 30,500/mt FOB, though the final trade volume has not been disclosed.