Japan: Tokyo Steel further reduces scrap procurement prices by $7/t except in Kyushu plant

Tokyo Steel has announced a JPY 1,000/t ($7/t) reduction in domestic scrap procurement prices across all plants, except Kyushu, where prices are down by JPY 500/t ($3/t), effective 22 Aug’24. New prices: Tahara, Okayama, Kansai, Kyushu, Utsunomiya – JPY 46,500/t ($320/t); Nagoya, Takamatsu – JPY 45,500/t ($313/t). This marked company’s third price cut in August owing to subdued market sentiments.