The main Japanese EAF-based steel producer, Tokyo Steel, has increased its local scrap purchase prices again on Tuesday, March 2. Prices for all five of its assets have been hiked by JPY 500/mt ($4.7/mt/mt) this time.
The H2 price at Tokyo Steel’s Tahara and Utsunomiya plants have reached JPY 41,500/mt ($388/mt). At Okayama, Kyushu and Takamatsu, they have settled at 41,000/mt ($383/mt), JPY 40,500/mt ($379/mt) and JPY 40,000/mt ($374/mt), respectively. The previous price change the company made was on Friday, February 26. All prices are delivered and effective from March 3.
The SteelOrbis reference price for ex-Japan H2 scrap has remained at JPY 42,500-43,500/mt ($397-407/mt) FOB so far.