Japan: Tokyo Steel raises scrap purchase prices by JPY 1,000/t ($6/t) across plants

• Geopolitical tensions impacted market confidence
• Scrap availability reduced in local market

Tokyo Steel increased its scrap purchase prices by JPY 1,000/t ($6/t) effective 3 March 2026, marking its first hike this month. The revision applies to all plants except Takamatsu, where prices remain unchanged. The increase was driven by strong export demand tightening domestic scrap availability, while rising geopolitical tensions and the ongoing war have supported global scrap prices and freight costs, further influencing sentiment and domestic pricing decisions.