Japan’s leading EAF mill – Tokyo Steel has lowered its scrap purchase price today for two works by JPY 500/t ($5). The company would now pay JPY 40,500/t ($370) and JPY 39,500 ($361) for H2 scrap delivered at Okayama and Takamatsu works respectively, effective from 17th Mar’21. However, prices remained unchanged for the remaining plants like Tahara and Utsunomiya. Decline in bids have pulled down Japanese scrap export offers, which in turn has softened domestic offers, SteelMint understands.
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