Japan: Tokyo Steel raises scrap purchase price by up to $9/t*

• Tokyo Steel has announced a hike in scrap purchase prices for the fifth time in Oct’21.
• The steelmaker has raised bids by up to JPY 1,000/t ($9) for two of its units, effective from 21 Oct.
• Post-revision, the company’s bid price for H2 scrap will stand at JPY 54,500/t ($476) for the Utsunomiya plant and JPY 57,000 ($498) for the Tahara steelworks.

*Correction: Tokyo Steel prices has been corrected to upto $9, which was wrongly written as $9/t.