Tokyo Steel sharply raises scrap bids, boosts seaborne sentiment

摘要

Singapore—Tokyo Steel Manufacturing, Japan’s leading EAF mill, announced another increase to its local scrap bids effective Feb. 17, boosting sentiment for import prices. The company raised bids for various grade scrap delivered to its Tahara, Okayama and Kyushu mills by Yen 1,000/mt ($9.50/mt), and to its Utsunomiya mill in Kanto region by Yen 2,000/mt. The heftier increase at Utsunomiya came after a Yen 6,000/ mt increase on Feb. 13, three days after the plant ended a 17-day maintenance and likely needing to restock, according to sources.