Japan’s leading EAF mill – Tokyo Steel has lifted its scrap purchase price today for all five works by up to JPY 2,000/t ($19). The company has raised bids by JPY 1,000/t for four plants except for Utsunomiya plant situated in Kanto where prices have increased by JPY 2,000/t. The company would now pay a price of JPY 39,000/t ($369) and JPY 37,000/t ($350) for H2 scrap delivered at Tahara and Utsunomiya respectively. Domestic scrap prices increase amid hike in Japanese export prices.
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