- Tokyo Steel, Japan’s largest EAF steelmaker, has announced another price cut for scrap purchases today. Prices have hit a three-month low amidst absence of firm overseas bids.
- The company cut buy bids by JPY 1,000/t ($8/t) for all steelworks, effective from 20 May.
- Post revision, the bid prices for H2 scrap is at JPY 59,000/t ($460/t) delivered to Tahara, while prices for Utsunomiya are at JPY 59,500/t ($463/t).
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