Japan: Tokyo Steel cuts H2 scrap prices JPY 500-1,500/t ($3-6/t) for fourth time

• Autumn construction demand expected to strengthen
• Purchase prices fall for ninth time since July

Tokyo Steel, Japan’s largest EAF steelmaker, announced its fourth H2 scrap price cut in August, reducing purchase prices by JPY 500-1,500/t ($3-6/t) across all plants effective 22 August. The latest revision marks the ninth consecutive price cut since July, bringing H2 purchase prices to JPY 47,000-50,000/t ($296-315/t) DAP.

The cuts came despite expectations of stronger autumn construction activity, with the steelmaker maintaining September product prices unchanged amid improving steel demand and rising market prices.