Japan’s leading EAF mill – Tokyo Steel has increased its scrap purchase price for all works by JPY 500/t ($4). The company would pay JPY 39,500/t ($373) for H2 scrap delivered at Tahara and Utsunomiya, effective from tomorrow (23rd Feb’21). Notably, this is the company’s fifth price hike announced so far in Feb’21. Prices at its Utsunomiya works in Kanto is approaching one-month high after recent price hike.
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