Tokyo Steel, the main EAF-based producer in Japan, has announced another local scrap purchase price hike, following the previous hike done just on December 10. Increasing demand in the local market and tighter supply have supported the uptrend in both Japanese domestic and export scrap prices.
On Monday, December 14, Tokyo Steel hiked prices for all five of its assets by JPY 1,500/mt ($14.5/mt). The H2 price at Tahara Works has reached the highest level among all plants at JPY 39,000/mt ($376/mt), up by JPY 1,500/mt from the level announced on December 10. The new price levels for Okayama Works and for Kyushu Works are at JPY 37,000/mt ($356.5/mt) and JPY 34,500/mt ($332/mt) respectively. For the Utsunomiya plant, the price for H2 has increased to JPY 34,500/mt ($332/mt). The price level for Takamatsu has been settled at JPY 33,500/mt ($323/mt). All prices are delivered and effective from December 15.