Japan: EAF manufactures in Kansai region announce scrap price cut following Tokyo Steel

In Japan’s Kansai region, EAF manufacturers have reduced scrap purchase prices following Tokyo Steel’s cut on 24 Jul’24. Current H2 scrap prices in Osaka are JPY 50,500-51,500/t ($331-337/t). Summer closures and weak demand have kept market conditions sluggish, with low yard inventories.