Japan: Tokyo Steel makes first H2 scrap price cut in September; export prices rise on higher freight

• Japan H2 export prices increase amid firm offers
• Suppliers hold material amid expected price gains

Tokyo Steel, Japan’s largest EAF steelmaker, announced its first H2 scrap price cut in September, lowering purchase prices by JPY 500/t ($3/t) at its Tahara plant, while prices at other plants increased by JPY 500/t ($3/t), effective 19 September. Following the revisions, H2 purchase prices stood at JPY 47,500-50,000/t ($303-319/t) DAP.

Meanwhile, Japan’s H2 export prices increased, supported by higher freight costs, firmer Turkish scrap prices, exchange-rate movements and expectations of stronger post-monsoon demand. Suppliers remained firm on further price gains and some held back material, while Vietnamese buyers stayed cautious at elevated price levels.