Japanese EAF-based producer Tokyo Steel has continued to increase local scrap purchase prices for all of its five assets by JPY 1,000/mt ($9.5/mt) on Wednesday, August 19. The previous price hike was announced just on Monday. Demand for scrap in Japanese local market has increased faster, supporting the uptrend in the export market.
Tokyo Steel’s prices for H2 scrap have increased to JPY 25,000/mt for Tahara and Okayama plants, to JPY 26,000/mt for Kyushu factory and to JPY 24,000/mt for Takamatsu plant, all prices delivered. The price for Utsunomiya has reached to JPY 25,500/mt.
Supported by strong local demand and $35/mt of surge of prices in Kanto Tetsugen’s export tender, ex-Japan H2 workable prices have increased to JPY 27,000-28,200/mt ($257-267/mt) FOB, up JPY 2,100/mt ($20/mt) on average from the previous level.
