Japan: Tokyo Steel cuts scrap purchase price by up to JPY 2,000/t ($15)

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Tokyo Steel, Japan’s largest EAF steelmaker, has lowered scrap purchase prices by JPY 1,000-2,000/t ($7-15/t).
After the revision, bid prices for H2 scrap are at JPY 52,000/t ($383/t) delivered to Tahara, while the price for Utsunomiya stands at JPY 50,000($368/t), delivered via land route.
Currency depreciation and falling export prices have weighed on Japanese scrap prices.

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