Tokyo Steel Raises Scrap Buy Price at All Plants

Tokyo Steel Manufacturing increases the ferrous scrap purchase price by up to 2,500 yen per tonne effective on Tuesday. The price increases by 2,500 yen to 35,500 yen for H2 grade scrap at Okayama plant while the price increases by 1,500 yen to 34,000 yen at Kyushu, Utsunomiya and Tahara plants and to 33,000 yen at Takamatsu plant.

Japan Steel Scrap Composite Price, which is averaged purchase price by the dealers in Tokyo, Osaka and Nagoya, increased for 5 weeks in a row through the week to March 6. The price increased by 700 yen to 23,600 yen per tonne for H2 grade and by 1,000 yen to 28,000 yen for pressed new cutting scrap from previous week.

Electric furnace steel makers pay 32,000-34,000 yen per tonne for H2 grade scrap around Tokyo. The makers’ purchase price is 33,000-35,000 yen around Nagoya. The makers increase the purchase price under tight supply.