Japan: Tokyo Steel hikes scrap prices across all mills amid firm market sentiment

Tokyo Steel has increased scrap purchase prices across all its plants in its fifth price revision this month, effective 20 Mar'26. Prices increased by JPY 1,000/t ($6/t) across all plants except Utsunomiya and Tokyo Bay satellite yard, where they rose JPY 500/t ($5/t). Price announcements for Takamatsu remained suspended. The uptick reflects improving overseas market cues, elevated freight costs, and geopolitical risks in the Middle East.