On Monday, June 8, Tokyo Steel announced its fourth local scrap purchase price increase in June. This time prices have increased by a larger margin than before - by JPY 1,000-1,500/mt ($9.1-13.7/mt), all effective starting from June 9.
The prices for H2 scrap have increased by JPY 1,000/mt for the Tahara, Okayama and Kyushu factories to JPY 24,500/mt ($224/mt), JPY 22,000/mt ($201/mt) and JPY 23,500/mt ($215/mt) respectively. For the Utsunomiya and Takamatsu factories, H2 scrap prices have increased by JPY 1,500/mt to JPY 24,500/mt ($224/mt) and JPY 21,500/mt ($197/mt), delivered.
In the Japanese export market, the situation has been calm on Monday as market participants are waiting for the Kanto Tetsugen export tender on Wednesday. Overall moods are bullish. Offers for H2 scrap have remained at JPY 24,500-26,000/mt ($225-238/mt) FOB.
