- Tokyo Steel has cut scrap buy prices after a gap of two weeks. The company has reduced bids by JPY 1,000/t ($8/t) for all its steelworks effective 7 May.
- Post-revision, the company’s bid price for H2 scrap stands at JPY 64,500/t ($495/t) delivered to Tahara, while prices for Utsunomiya are at JPY 65,500/t ($502/t).
- Drop in Japanese scrap export prices weighs on domestic prices.
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