ASIA STEEL SCRAP DIGEST: Tokyo Steel's higher purchase prices make Japanese exports costlier

Export prices for Japanese ferrous scrap received a boost after key local buyer Tokyo Steel said it would pay more for the steelmaking raw material, sources told Fastmarkets on Wednesday September 15.

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Tokyo Steel, Japan’s largest operator of electric-arc furnaces, raised its purchase prices for steel scrap by ¥500-1,000 ($4.60-9.10) per tonne at three of its steel works from Wednesday.
"Tokyo Steel's production is up this month and supply of scrap has been tight, particularly in the Kyushu and Okayama areas, and it has not been able to get enough of it," a Japanese scrap trader said.
Japanese sources told Fastmarkets that the rise in Tokyo Steel’s purchases prices led to suppliers holding on to material and refusing to offer large quantities on Wednesday amid expectations of another impending price increase.

"Offer prices...

Published

Lee Allen

Paul Lim

September 15, 2021

10:46 GMT

Singapore, London