Japan: Tokyo Steel reduces scrap buy prices by $11/t

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Tokyo Steel has cut scrap buying prices again in May’22. The company reduced bids by JPY 1,500/t ($11/t) for all its steelworks effective from 12 May.
Post-revision, the company’s bid price for H2 scrap stands at JPY 63,000/t ($484/t) delivered to Tahara, while prices for Utsunomiya are at JPY 64,000/t ($492/t).
The inconclusive Kanto scrap export tender has put pressure on domestic scrap prices.

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