Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Tokyo Steel raises domestic scrap bids by JPY500/mt ($4.7/mt) for all works. The new purchase prices for #2 HMS were at JPY39,500/mt delivered Tahara, JPY39,500/mt delivered Okayama, JPY39,000/mt delivered Kyushu, JPY39,500/mt delivered Utsunomiya and JPY38,500/mt delivered Takamatsu, effective Feb 23. 


With rising global scrap prices and domestic scrap shortage in Japan, traders expect prices to rise further in the coming days. Countries like South Korea, Vietnam and Taiwan are expected to raise bids for Japanese scrap this week while they cautiously track Turkish buying and Chinese demand.



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