Japan: Tokyo Steel cuts scrap buy prices by $3/t

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Japan’s major EAF steelmaker, Tokyo Steel, has cut scrap buy prices after the Kanto tender failed due to lower bids.
The company has cut H2 grade bids by JPY 500/t ($3/t) for four of its plants, effective 10 Nov.
Post-revision, prices of H2 scrap stand at JPY 48,500/t ($332/t) delivered to Tahara factory and JPY 49,000/t ($336/t) to Utsunomiya plant, excluding Takamatsu works.

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