Japan Tokyo Steel hikes scrap procurement price

Tokyo Steel hiked scrap purchase prices by $13/t for the second time this month. Notably, the price has peaked since 2017.
Post revision, the company's bid price for H2 scrap stands at JPY 62,500/t ($530/t) delivered to the Tahara and Utsunomiya plants effective 15 Mar'22.
The price spike in the international market has led the domestic market to follow suit.