Japan: Tokyo Steel cuts scrap buy prices further by $3/t for each plants

Tokyo Steel has announced a JPY 500/t ($3/t) reduction in domestic scrap procurement prices across its plants effective 27 Aug’24.

New prices at Tahara, Okayama, Kansai, Kyushu, Utsunomiya, Takamatsu are at JPY 46,000/t ($318/t); Nagoya, Takamatsu – JPY 45,000/t ($311/t). This marks the company’s fourth price cut in August owing to subdued market sentiments.