On December 6, major Japanese EAF-based steel producer Tokyo Steel has announced another local scrap purchase price increase of JPY 500/mt ($4.6/mt) for four out of five of its assets. This is the second price revision this week. On December 3, the company had increased prices for one plant, Tahara Steelworks.
This time, Tokyo Steel hiked prices for Takamatsu Steelworks to JPY 21,500/mt ($198/mt), for Okayama to JPY 22,500/mt ($207/mt), while quotations at Tahara and Utsunomiya reached JPY 24,500/mt ($226/mt). All prices include delivery and will be effective from December 7. The purchase price at Kyushu stayed at the same level, at JPY 24,500/mt ($226/mt) delivered.
Japanese exporters are insisting on offers for H2 scrap at JPY 25,500-26,000/mt ($235-239/mt) FOB.
$1 = JPY 108.568