Japan: Aichi Steel raises stainless steel scrap purchase prices further in May

Aichi Steel, a Japanese steelmaker and a member of the Toyota Group, increased its SUS304 stainless steel scrap purchase prices by JPY 10,000/t ($63/t), effective 8 May, marking another sharp hike amid tightening scrap availability and firm export demand. The latest increase follows two earlier revisions in April, highlighting continued strength in Japan's stainless steel raw material market. Market participants noted that major Japanese stainless steel producers are raising procurement prices aggressively to secure adequate scrap supplies.