Japan: Tokyo Steel cuts H2 scrap purchase prices by JPY 1,000/t ($6/t) across all plants

• Weak demand, lower collection prices in Kanto Bay prompt cut
• Demand from Vietnam remains muted despite weaker yen

Tokyo Steel, Japan’s largest electric arc furnace (EAF) steelmaker, announced its first H2 scrap price cut for August, reducing purchase prices by JPY 1,000/t ($6/t) across all plants, effective 4 August. The reduction reflects weak domestic scrap demand, lower Kanto Bay collection prices, and subdued export buying from Vietnam.

Vietnamese mills have largely secured sufficient inventories and increasingly favour imported billets and domestic scrap, limiting demand for Japanese bulk scrap. A weaker yen has supported export competitiveness but has not been enough to revive buying interest, prompting Tokyo Steel to continue lowering domestic purchase prices.