Tokyo Steel hikes scrap purchasing price
Time:Fri, 11 Mar 2022 09:06:06 +0800
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Japan’s Tokyo Steel raised its purchasing price of scrap by US$26/ton, which hit a low high since 2017.
After the price adjustment, Tokyo Steel’s bid price for H2 scrap was at 60,000 yen per ton, delivered to the Tahara and Utsunomiya plants, valid from March 9. The increase in the bid prices will raise Japan’s domestic offers further.
Besides, due to the surge in prices of raw material, semi-finished products, and finished steel in Europe due to the Russia-Ukraine war, many steel mills have suspended their domestic and export sales, saying that they needed to know what price level will be in the overseas market.
