Japan’s Tokyo Steel cuts scrap purchase price further by upto JPY 1,500 ($14)

Japan’s leading EAF mill – Tokyo Steel has announced scrap purchase price cut today by JPY 1,000-1,500/t ($9-14) for all five plants. The company would now pay a price of JPY 32,000/t ($309)for H2-scrap delivered at Utsunomiya plant. This is the company’s sixth price cut in Jan’21 and the company has cut prices by JPY 10,000 ($96) so far in Jan’21. Due to electricity issues in Kanto region and under maintainance at few plant sites, the company has reduced its scrap prices.