On December 25, Tokyo Steel announced a further scrap purchase price increase - by JPY 1,000-2,000/mt ($9.6-19/mt) - for four out of five of its assets. Demand has continued to increase in the Japanese domestic market, especially in the Kanto region, which supports export scrap prices and results in a limited allocation for foreign customers.
Tokyo Steel increased the price for H2 scrap at Utsunomiya by JPY 2,000/mt ($19/mt) again - to JPY 43,000/mt ($415/mt). Prices for Kyushu and Takamatsu also went up by JPY 2,000/mt to JPY 41,000/mt ($396/mt). At Tahara Works, the H2 scrap price was settled at JPY 43,000/mt ($415/mt), up by JPY 1,000/mt from the previous level. The producer kept the price level for Okayama Works stable at JPY 41,500/mt ($401/mt). All prices are delivered and effective from December 26.
The offer volume to the export market is limited at the moment. The SteelOrbis reference price for ex-Japan H2 scrap stayed at JPY 44,000-45,000/mt ($425-434/mt) FOB, unchanged since last week, as no new deals are reported, while most offers are above JPY 45,000/mt ($434/mt) FOB.