Tokyo Steel increases scrap purchase prices for four factories

Tuesday, 03 November 2020 16:36:15 (GMT+3)   |   Istanbul

On Monday, November 2, Tokyo Steel, one of the major EAF-based producers in Japan, announced its new scrap purchase prices for four out of five its assets, increasing them by JPY 500/mt ($4.8/mt). The previous price increase was on October 21.

As a result, the scrap price for H2 at the Tahara, Okayama and Kyushu factories has reached JPY 27,500/mt ($262.5/mt) delivered, while the scrap price at Takamatsu has been increased to JPY 26,500/mt ($253/mt). The price for H2 at the Utsunomiya plant has remained at JPY 26,000/mt ($248/mt) so far. All prices are effective from November 3.

Higher demand in the local market in Japan is supporting export scrap prices. The SteelOrbis reference price for Japanese H2 scrap has been stable since the end of last week at JPY 28,000-29,000/mt ($268-278/mt) FOB, but some buyers who refused to follow the uptrend have been more willing to buy.

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