Major Japanese EAF-based steel producer Tokyo Steel has increased its local scrap purchase prices further as demand is on the rise. This time, the rise is by JPY 1,000-1,500/mt ($9-14/mt) for all five plants.
On May 18, Tokyo Steel hiked prices for H2 at Tahara and Kyushu by JPY 1,500/mt ($14/mt) to JPY 51,500/mt ($473/mt) and JPY 50,000/mt ($459/mt), respectively. For the other three assets, prices have been increased by JPY 1,000/mt ($9/mt). The new H2 scrap at Okayama is at JPY 50,000/mt ($459/mt), while at Takamatsu the price is at JPY 48,500/mt ($445/mt). At the major plant in the Kanto area - Utsunomiya - the producer will pay JPY 48,000/mt ($441/mt) for H2. All prices are delivered and effective from May 19.
The SteelOrbis reference price for ex-Japan H2 has remained at JPY 50,000/mt ($459/mt) FOB.