Japan: Tokyo Steel cuts scrap purchase price by $5/t at 3 works

Tokyo Steel has observed another price cut for its scrap purchase price, cutting bids by JPY500/t ($5/t) for Okayama, Takamatsu and Kyushu-works. Prices to Utsunomiya and Tahara works, which witnessed steep cuts last week, have been kept unchanged. Company will now pay JPY23,000/t ($214/t) for H2-scrap delivered to Okayama works, JPY21,500/t to Utsunomiya and JPY22,500 to Tahara.