Major Japanese EAF-based producer Tokyo Steel has announced a scrap purchase price increase of JPY 500/mt ($4.7/mt) for three assets, including its Utsunomiya plant, on Friday, August 7. A previous hike for one asset was announced on August 4.
Accordingly, Tokyo Steel has raised its H2 scrap price by JPY 500/mt ($4.7/mt), for Utsunomiya to JPY 23,500/mt ($222/mt), for Tahara to JPY 23,000/mt ($218/mt) and for
Kyushu to JPY 24,000/mt ($227/mt), delivered. Prices for the other two assets have remained stable at JPY 22,000-23,000/mt.
Export scrap prices in Japan have also moved up in tandem with the local market. The tradable value for Japanese H2 scrap rose to JPY 25,500/mt ($241/mt) FOB this week, and some suppliers are confident they will see JPY 26,000/mt FOB sometime soon. Last week, the deal price range was at JPY 25,000-25,500/mt FOB.
