Tag: yen appreciation

Japanese EAF manufacturers slash scrap prices following Tokyo Steel price cuts

Sep 13, 2024

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by

Adarsh Ramteke

in Melting Scrap

Electric arc furnace (EAF) manufacturers in Japan’s Kanto region reduced scrap procurement prices by JPY 1,500/t ($11/t), setting H2 prices at JPY 41,500/t ($294/t). This move follows consecutive price cuts made by Tokyo Steel recently and a sharp decline in Gulf Coast prices to JPY 40,000/t. Since July, scrap prices in Japan have dropped by…