- Export offers remain supported by weaker yen
- Other Tokyo Steel plant prices remain unchanged
Tokyo Steel reduced its scrap purchase price at its Tokyo Bay plant by JPY 500/t ($3/t) to JPY 53,500/t ($331/t), effective 26 June, while maintaining prices at its other facilities. The move reflects softer scrap collection trends and cautious steel demand, although domestic market fundamentals remained relatively stable, particularly in the Kanto region.
Market participants said the price cut had limited impact on export offers, as Kanto-based collection prices remained firm and a weaker yen continued to support export competitiveness. As a result, most suppliers resisted lowering offers, with Japan-origin H2 scrap largely remaining above $380/t CFR Vietnam despite a few lower-priced transactions.
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