Japan's largest electric steelmaker Tokyo Steel Mfg Co has increased what the company pays for locally available ferrous scrap by JPY 500 to JPY 1,000 per tonne at its five works, effective with Sept 7 arrivals, which indicates a second price increase after one from Sept 3.

A price increase of JPY 500 per tonne applies to all grades of arrivals at the Okayama, Takamatsu, Tahara and Utsunomiya works. Another price increase of JPY 1,000 per tonne applies to all grades of arrivals at the Kyushu works.

As a result, the new delivered prices of No2 HMS are
JPY 36,000 per tonne for seaborne/overland arrivals at the Okayama works
JPY 37,000 per tonne for the corresponding arrivals at the Kyushu works
JPY 34,000 per tonne for the corresponding arrivals at the Takamatsu works
JPY 35,500 per tonne for seaborne arrivals
JPY 36,000 per tonne for overland arrivals at the Tahara works
JPY 35,500 per tonne for overland arrivals at the Utsunomiya works.

(Sourced from The TEX Report)