JAPAN STEEL SCRAP: Sellers look to domestic markets for higher margins

Sellers of Japanese scrap are looking to the domestic market instead of exports because of the higher margins that can be found there, market participants told Fastmarkets on Wednesday December 23.

The massive increases in domestic scrap purchase prices by major Japanese mini-mill Tokyo Steel have also supported sentiment.
The price-benchmark setter increased its purchase price for the 10th time in December, raising its purchase price by ?2,000 ($19.32) per tonne at its Utsunomiya steel works to ?43,000 per tonne while leaving the purchase price at the rest of its steel works unchanged.

It had increased its purchase prices by ?2,000 per tonne just two days earlier on December 22, paying ?43,500-44,500 per tonne at its Tahara steel works and ?43,500 per tonne at its Okayama steel works. It was also paying ?41,000 per tonne at its...

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