- Tokyo Steel raises purchase prices across plants
- Export outlook supports bullish domestic sentiment
Japan Metal Daily: Steel scrap purchase prices in Japan’s Kanto region continued to strengthen, with electric furnace mills raising H2 prices by JPY 500-1,000/t ($3-6/t), pushing peak levels to around JPY 50,000-50,050/t ($315-316/t)-the highest in nearly 1.5 years.
Tokyo Steel led the move, increasing purchase prices from 20 March by JPY 500/t ($3/t) at its Utsunomiya plant and Tokyo Bay satellite yard, while other locations saw hikes of up to JPY 1,000/t ($6/t). As a result, H2 prices across its facilities aligned at around JPY 49,000/t ($309/t).
The upward adjustment reflects efforts to match rising bay (Kanto Gulf) prices and prepare for a potential rebound in export demand. Market participants noted that while export activity remains subdued due to high freight costs and uncertainty, suppliers are positioning for a possible surge in bookings once conditions stabilize.
Following Tokyo Steel’s lead, other regional mills also raised procurement prices, lifting bay levels to around JPY 49,500/t ($312/t) for H2. Strong supply tightness further supported the uptrend, with sellers increasing offers to secure volumes.
Looking ahead, sentiment remains firm as mills anticipate improved export activity, though near-term trading may stay cautious amid volatile freight rates and global uncertainties.
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