Tokyo Steel, the main EAF-based steel producer in Japan, has announced the second rise in its scrap purchase prices this week. This time, the producer has hiked prices for one of its assets, Utsunomiya, by JPY 2,000/mt or $18/mt.
As a result of this increase, prices for H2 and shindachi scrap at Utsunomiya, located in the Kanto area, have reached JPY 53,000/mt ($475/mt) and JPY 55,000/mt ($493/mt) respectively. The new levels will be effective from October 9. The recent hike reflects Tokyo Steel’s need to achieve stable scrap flow, especially in the Kanto area, where demand is on the rise.
Scrap prices for the four other assets of the group have remained stable after the previous change on October 5. The latest prices for H2 are ranging at JPY 51,000-53,000/mt ($457-475/mt) and the lowest end of the range corresponds to the price for only one plant, i.e., Takamatsu.