Tokyo Steel Increases Scrap Purchase Price by 1,000 yen

Tokyo Steel Manufacturing announced on Monday the firm increases ferrous scrap purchase price by 1,000 yen per tonne at all plants on December 7, which is the first increase in about 2 weeks. New purchase price is 33,500 yen for H2 grade at Okayama plant, 34,500 yen at Kyushu plant, 31,500 yen at Takamatsu plant and 33,500 yen at Utsunomiya plant. The firm offers 33,000 yen for ocean transport and 33,500 yen for land transport at Tahara plant.

Japanese electric furnace steel makers increased the ferrous scrap purchase price by 4,000-4,500 yen to 31,000-32,000 yen per tonne for H2 grade around Tokyo in November. Higher export price lifted their purchase price.

The makers increased the purchase price by around 2,500 yen per tonne in first half of November around Tokyo when local scrap shippers raised scrap shipping FAS price around Tokyo bay and the price topped local makers’ purchase price. Scrap export price hit 29,368 yen per tone for H2 grade at monthly tender held by Kanto Tetsugen on November 10. The local makers increased the scrap purchase price by additional by 1,000-1,500 yen after the tender. However, the market price leveled off in late November when the export price stopped increasing.