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Tokyo Steel lifts scrap prices further on tight supply

Argusmedia - Japan's Tokyo Steel today announced its sixth increase for ferrous scrap prices this month, effective on 13 June, as its previous rises failed to boost scrap flow to some mills.

The firm will raise scrap collection prices for all scrap grades by another 500 yen/t ($4.66/t) for Okayama and Takamatsu plants and ¥1,000/t for Utsunomiya plant. It will also increase shindachi grade scrap prices by ¥500/t for its Tahara plant, while keeping prices for other grade flat.

H2 scrap is now priced at ¥22,500/t delivered to Tahara plant and ¥25,000/t delivered to Utsunomiya plant, up by ¥1,000/t and ¥3,500/t on the week, respectively. The price jump at Utsunomiya plant reflects that supply is tightest in the Kanto region.

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