Japanese mill – Tokyo Steel has announced a sharp hike in its scrap purchase bids by JPY 1000/t ($9) today for all of its five plants, effective from tomorrow (18th Aug’ 20). After an increase, the company would pay JPY 24,000/t ($ 225) and JPY 24,500/t ( $230) for H2 scrap delivered to Tahara and Utsunomiya works. Hike in Japanese scrap export offers have resulted in hike in domestic purchase prices.
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