Japan: Tokyo Steel’s fourth scrap purchase price cut in Jan’21

Japan’s leading EAF mill – Tokyo Steel has cut scrap purchase price today by upto JPY 2,000/t ($19) for two works. The company would now pay a price of JPY 41,000/t ($395) for H2-scrap delivered at Tahara and JPY 36,000/t ($347) for Utsunomiya works, effective from tomorrow (26th Jan’21). Notably, this is the company’s fourth price cut for Utsunomiya plant so far in Jan’21.