Tokyo Steel hikes local scrap prices for four plants second time this week

Thursday, 05 November 2020 16:10:35 (GMT+3)   |   Istanbul
       

On Thursday, November 5, Tokyo Steel, one of the major EAF-based producers in Japan, announced another scrap purchase price increase of JPY 500/mt ($4.8/mt) for four out of five of its assets. The previous price increase was made on Monday this week.

As a result, the scrap price for H2 at the Tahara, Okayama and Kyushu factories has reached JPY 28,000/mt ($269/mt) delivered. The scrap purchase price at Takamatsu has been set at JPY 27,000/mt ($259/mt). At the same time, the price for H2 at the Utsunomiya plant has been kept stable for the whole of this week at JPY 26,000/mt ($248/mt). All prices are effective from November 6.

Demand for scrap in Japan is going to be firm or will gradually increase in the near future, which will support prices.


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