Major Japanese EAF-based steel producer Tokyo Steel has announced another local scrap purchase price increase of JPY 500/mt ($4.6/mt) for all its assets on November 18.
Prices for Takamatsu have reached JPY 20,500/mt ($188/mt) delivered and prices for Okayama have risen to JPY 21,500/mt ($197/mt) delivered. Prices for the other three assets are at JPY 23,000-24,000/mt ($211-220/mt) delivered. The new prices will be effective from November 19.
The decision to increase prices has been taken due to rises in scrap prices in the global market starting from early November. Ex-Japan scrap offers are stable compared to last week at JPY 24,000-24,500/mt ($211-225/mt) FOB.
$1 = JPY 109.054