Japan: Tokyo Steel cuts scrap procurement price after two months

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Japan’s leading steel producer, Tokyo Steel, has cut its scrap buy price after a gap of two months.
The steelmaker has lowered bids by JPY 1,000/t ($9) for its Tahara steelworks from 30 Oct.
Post-revision, the company’s bid price for H2 scrap stands at JPY 58,000/t ($511) for the Tahara works, while prices for the other Tokyo steel plants remain unchanged, as per reports.

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