Japan: Tokyo Steel cuts H2 scrap prices by JPY 500/t ($3/t), fifth cut in August

• H2 prices now JPY 47,000-49,500/t DAP
• Slow steel market weighs on demand

Tokyo Steel, Japan’s largest EAF steelmaker, announced its fifth H2 scrap price cut in August, reducing purchase prices by JPY 500/t ($3/t) at its Tahara plant effective 26 August, while prices at other plants remained unchanged. The cut brought H2 purchase prices to JPY 47,000-49,500/t ($295-311/t) DAP.

The reduction came amid a sluggish steel market, cautious buying and weak downstream demand. In Vietnam, buyers continued to seek lower prices for Japan-origin H2 scrap, while expected billet arrivals further reduced mills’ urgency to purchase scrap. With export offers remaining rangebound and Japanese FAS collection prices largely stable, limited upward momentum prompted Tokyo Steel to lower its buying price at Tahara.