Japan: Tokyo Steel cuts scrap procurement prices by $4/t

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Japan’s major EAF steelmaker, Tokyo Steel, continued reducing scrap purchase prices for the first time this week.
The company reduced H2 grade bids by JPY 500/t ($4/t) for all its plants, effective 30 Nov’22.
After the final revision, prices of H2 scrap stand at JPY 46,000/t ($332/t) delivered to the Tahara works and Okayama plant followed by JPY 46,500/t ($336/t) to the Utsunomiya plant.

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