Tokyo Steel has announced a further increase in its local scrap purchase prices by JPY 500-1,000/mt ($4.8-9.6/mt) for two of its assets. This was the seventh revision since the beginning of November.
On Tuesday, November 24, Tokyo Steel, one of the major EAF-based producers in Japan, announced its new H2 scrap price for its Tahara Works at JPY 32,000/mt ($306/mt), up by JPY 1,000/mt, while the price for its Okayama plant has been increased by JPY 500/mt to JPY 31,500/mt ($302/mt). The price level for Kyushu has remained at JPY 30,000/mt ($287/mt) and that for Takamatsu is also stable at JPY 29,000/mt ($278/mt). The level at the Utsunomiya plant is the lowest - unchanged at JPY 27,500/mt ($263/mt). All prices are delivered and effective from November 25.
The Japanese export market continued to go up late last week and at the moment there have been no offers below JPY 32,000/mt ($306/mt) FOB heard in the market. The reference price for ex-Japan H2 has been increased by JPY 500-1,000/mt ($4.8-9.6/mt) since the middle of last week to JPY 31,500-32,000/mt ($302-306/mt) FOB. At this range, there has been a deal to Vietnam, as SteelOrbis reported earlier.