Japan: Tokyo Steel lowers scrap buy prices by $8/t

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Tokyo Steel, Japan’s largest EAF steelmaker, has lowered scrap buying bids by JPY 1,000/t ($8/t) for all steelworks effective from 17 May.
Post-revision, the bid price for H2 scrap is at JPY 61,000/t ($472/t) delivered to Tahara, while prices for Utsunomiya are at JPY 62,000/t ($479/t).
Volatility in global scrap prices and the Kanto scrap export tender remaining inconclusive continue to exert pressure on domestic scrap prices.

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