Tokyo Steel hikes scrap procurement price

Tokyo Steel hiked scrap buying prices by $26/t and increased offers after one month. Notably, the price has peaked since 2017.
Post revision, the company's bid price for H2 scrap stands at JPY 60,000/t ($518/t) delivered to the Tahara and Utsunomiya plants effective 10 Mar'22.
Surge in bids in the Kanto scrap export tender today has driven domestic offers higher.