Tokyo Steel Scrap purchase Prices reach 6 month high on improved demand

With improved demand for the material from
the construction sector, Japanese
ferrous scrap prices have risen to their highest levels in six months to reach
JPY 34-500-35,500/MT (US$ 422-434/MT).

The country's biggest EAF operator, Tokyo
Steel has lifted its purchase prices further by US$ 6/MT (JPY 500/MT) for the
third time in less than two weeks for all five of its works. New purchase
prices have applied from 5^th April.

After the hike in prices, its latest HMS 2
scrap purchase prices are at an average of US$ 422-434/MT (JPY 34,500-35,500/MT).

Following are the current purchase price
(plant wise) for HMS 2 (Unit: JPY/MT):

Okayama: 35,500

Kyushu: 35,500

Takamatsu: 33,000

Tahara: 35,500

Utsunomiya: 34,500

(1 US$ = JPY 81.6400)