Japan: Tokyo Steel lifts scrap purchase price by up to JPY 3,000/t ($28)

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Japan’s leading EAF mill – Tokyo Steel has raised scrap purchase price for the second consecutive day.
The company has revised its prices for all five plants by up to JPY 3,000/t ($28).
After today’s announcement, the company will pay JPY 49,000/t ($450) and JPY 46,000/t ($422) respectively for H2 scrap delivered at Tahara and Utsunomiya plants, effective from tomorrow (12th May’21).
The price hike was in line with market expectations after Kanto export tender bids surged by around $47/t m-o-m.

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