The main Japanese EAF-based steel producer, Tokyo Steel, has increased local scrap prices for all five of its assets: by JPY 1,000/mt ($9.5/mt) for four plants and by JPY 2,000/mt ($19/mt) for the Utsunomiya plant, as of February 16. The bigger rise at the latter is explained by the need to improve scrap flow and, as a result, to bring the purchase prices there closer to levels of the other assets.
The H2 price level at the Tahara Works has increased to JPY 39,000/mt ($370/mt), while at Okayama, Kyushu and Takamatsu it has reached JPY 38,500/mt ($366/mt), JPY 38,000/mt ($361/mt) and JPY 37,500/mt ($356/mt), respectively. Prices at all these assets have gone up by JPY 1,000/mt ($9.5/mt) - the first increase at these assets this month.
Prices for H2 scrap for the Utsunomiya asset have added another JPY 2,000/mt (19/mt) to JPY 37,000/mt ($351/mt). As a result, together with the previous hike by JPY 6,000/mt earlier this month, prices at Utsunomiya have jumped by JPY 8,000/mt ($76/mt) in total in February. All prices are delivered and effective from February 17.