On Monday, June 1, Tokyo Steel announced a further local scrap purchase price increase, after the previous hike made last Thursday. This time local purchase prices have also increased by JPY 500-1,000/mt ($4.6-9.3/mt), to be effective starting from June 2.
The prices for H2 scrap have increased by JPY 1,000/mt for the Tahara and Kyushu factories to JPY 22,500/mt ($209/mt) and JPY 20,500/mt ($190/mt) respectively. Prices for the other facilities have added JPY 500/mt. Prices at Okayama and Takamatsu have reached JPY 20,000/mt ($186/mt) and JPY 19,000/mt ($176/mt), delivered. The prices for Utsunomiya, the most important for the foreign market, are at INR 21,000/mt ($195/mt).
The latest offers for H2 scrap in the export market are at JPY 24,000-25,000/mt ($223-232/mt) FOB depending on destination, in line with the level announced late last week.
