TOKYO The rally in the
Japanese scrap market continues unabated, with Tokyo Steel
Manufacturing Co. Ltd. raising its purchase prices for the
fourth time in two weeks.
electric-arc furnace operator and effective benchmark price
setter raised its purchase prices for deliveries to all five of
its works by an additional ¥500 ($6) per tonne.
As a result, it will now pay
¥25,000 ($306) per tonne for deliveries to its Utsunomiya
Works; ¥24,500 ($300) per tonne for seaborne deliveries to
its Okayama factory; ¥24,000 ($294) per tonne for overland
deliveries to the plant, as well as all deliveries to its
Kyushu and Tahara plants; and ¥23,000 ($282) per tonne for
those to its Takamatsu service center.
After cutting its purchase
prices to their lowest levels in more than three years in late
October, the company has hiked its prices by as much as
¥2,500 ($31) per tonne, taking delivery costs to its
Okayama plant back to levels seen in early October and those at
its Utsunomiya plant to late-September levels.
Regional scrap purchase prices are being driven higher by
the recent hikes in Chinese product prices, with those in the
domestic market also being helped by a weaker yen and higher
A version of this article was first
published by AMM sister publication Steel