Tokyo Steel Raises Ferrous Scrap Buy Price by 500 yen/t

Tokyo Steel Manufacturing increases the ferrous scrap purchase price by 500 yen per tonne for all grades at all plants on Thursday. The first price increase since January 26 increases the H2 grade purchase price to 34,500 yen per tonne for Tahara plant and ocean transport at Okayama plant and Kyushu plant, 34,000 yen for land transport at Okayama and Kyushu plants, 33,500 yen for Utsunomiya plant and 33,000 yen for Takamatsu plant.

Scrap dealers’ purchase price is 24,500 yen per tonne for H2 grade, 26,300 yen for H1 grade and 28,000 yen for HS grade around Tokyo. Local steel makers’ scrap purchase price is 33,000-34,000 yen for H2 grade.

Local supply is stable around Tokyo but the supply shows sign to increase from construction work sites. The demand decreases around Tokyo especially for export compared with late February. The supply balance gets looser but local makers’ purchase is stable.