Japan | Electricity costs reach their highest level since 2022
Japan’s nationwide next-day spot electricity price reached JPY 31.15 per kWh on October 20.
Higher imported energy costs increased pressure on electric-arc furnace producers in particular.
Sources had not observed widespread operating-rate cuts, but warned about deteriorating profitability at smaller mills.
Tokyo Steel announced a JPY 3,000-per-tonne increase for November steel contracts.
Other producers also sought higher prices to offset energy, raw-material, freight and labour costs.
Japan | Scrap export prices rise on stronger domestic demand
Japanese H2 scrap exports rose JPY 1,500 to JPY 51,000–52,000 per tonne FOB.
Shredded scrap increased to JPY 53,500–54,500 per tonne FOB.
Tokyo Steel raised purchasing prices at several plants, reinforcing domestic competition for material.
Higher offers nevertheless met resistance from overseas buyers, especially Vietnamese mills.
Trading remained limited as buyers considered local scrap and imported billet alternatives.
