Japan: Tokyo Steel lowers scrap purchase price for the first time in Jul’21

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Japan’s leading EAF steel mill, Tokyo Steel, has announced scrap purchase price revision on 9 Jul’21.
The company has decreased prices by JPY 500/t ($5) for two of its works -Tahara and Kushu.
After the revision, the company would pay a bid price for H2 scrap at JPY 51,000/t ($464) for the Tahara works, although prices remain unchanged for the other three works, including Utsunomiya.
The decline in prices is in line with market expectations after bids dropped by $12/t m-o-m at the Kanto export tender.

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