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.