- Other plant purchase prices remain unchanged nationwide
- Stronger yen partly offsets dollar price decline
Tokyo Steel, Japan’s largest electric arc furnace (EAF) steelmaker, reduced its H2 scrap purchase price at its Nagoya Satellite plant by JPY 500/t ($3/t) to JPY 53,500/t ($332/t), effective 4 July, while leaving buying prices unchanged at its other procurement yards. The latest adjustment marks the fifth consecutive price cut since late May, reflecting continued weakness in domestic scrap market sentiment and softer steel demand.
However, the appreciation of the Japanese yen partially offset the decline in dollar-denominated values, allowing Tokyo Steel to maintain stable procurement prices across its remaining facilities. Market participants noted that domestic scrap availability remains adequate, reducing the urgency for aggressive purchasing despite stable mill operations.
Meanwhile, scrap price announcements for the Takamatsu plant remained suspended. The selective reduction at Nagoya indicates Tokyo Steel’s cautious procurement strategy as it continues to align raw material costs with prevailing market conditions while monitoring domestic demand and currency movements.
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