- Weak export sentiment pressures domestic scrap market
- Other Tokyo Steel plant prices remain unchanged
Tokyo Steel reduced its scrap purchase price at the Kyushu plant by JPY 500/t ($3/t) to JPY 53,500/t ($331/t), effective 24 June, while maintaining unchanged buying prices across its other facilities. The price cut reflects weaker export market sentiment, declining H2 scrap prices, and subdued demand from key overseas buyers such as Vietnam.
Notably, H2 FAS collection prices in Japan were heard largely rangebound w-o-w at JPY 53,300/t ($330/t), with indications at JPY 54,000-54,500/t ($334-337/t). However, Japan’s H2 ferrous scrap export price was last assessed at JPY 51,100/t ($319/t) FOB Tokyo Bay, down JPY 900/t w-o-w, highlighting softer export market conditions. Meanwhile, scrap price announcements for the Takamatsu plant remained suspended.
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