On November 26, major Japanese EAF-based steel producer Tokyo Steel has announced further a local scrap purchase price increase of JPY 500/mt ($4.6/mt) for all its assets. This is the third price hike by the producer this month.
Prices for Takamatsu have reached JPY 21,000/mt ($193/mt) delivered and prices for Okayama have risen to JPY 22,000/mt ($202/mt) delivered. Prices for the other three assets are at JPY 23,500-24,500/mt ($216-225/mt) delivered. The new prices will be effective from November 27.
Ex-Japan scrap offers have increased to JPY 24,500-25,000/mt ($225-229/mt) FOB recently, following successful deal to South Korea at JPY 24,000/mt ($220/mt) FOB and sales to Vietnam, as SteelOrbis reported previously.
$1 = JPY 108.963