Japan: Tokyo Steel hikes scrap procurement price by over $20/t

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Tokyo Steel hiked scrap purchase prices by $21/t for the second time this month. Notably, the price has peaked since 2017, as per SteelMint data.
Post revision, the company’s bid price for H2 scrap stands at JPY 62,500/t ($530/t) delivered to the Tahara and Utsunomiya plants effective 15 Mar’22.
The price spike in the international market has led the domestic market to follow suit.

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