Japan: Tokyo Steel raises H2 scrap purchase prices by JPY 500/t ($3/t) amid firmer export market

• Export prices, FOB Tokyo Bay, rise JPY 700/t ($4/t)
• Limited competitively priced cargoes support prices

Tokyo Steel, Japan’s largest EAF steelmaker, raised H2 scrap purchase prices by JPY 500/t ($3/t) across all plants, effective 5 October, marking its first price increase in October. Following the revision, H2 buying prices stood at JPY 48,000-50,500/t ($304-320/t) DAP.

The increase was supported by firmer Japan-origin export prices, with higher offers to Vietnam, and elevated ocean freight costs. FOB Tokyo Bay H2 prices rose JPY 700/t ($4/t) w-o-w to JPY 50,500/t ($320/t), while Vietnam offers reached $380-385/t CFR. Limited competitively priced cargoes and firm seller expectations also supported Japanese scrap values.