Japan: Tokyo Steel increases scrap purchase bids by $5-9

Tokyo Steel today observed another price hike for scrap purchase at 3 of its 5 plants, increasing bids by JPY 1000/t for Utsunomiya (Kanto) while JPY 500/t for Okayama and Takamatsu works. They’ll pay JPY 26,500 ($247) for H2 scrap delivered to Utsunomiya (10 month-high) while H2 prices to Tahara and Okayama stand at JPY 24,500/t and JPY 23,500/t, respectively.