Sentiment in the local Japanese scrap market has remained weak despite some slightly better mood in the export market.
On March 11, Tokyo Steel has cut its H2 scrap purchase price for Kyushu plant by JPY 500/mt ($4.8/mt) to JPY 18,000/mt ($172/mt) delivered. On March 6, the steel producer had cut purchase prices at the same asset by the same amount. Scrap prices for other plants of Tokyo Steel have remained the same - at JPY 18,000-20,500/mt ($172-196/mt) delivered. The new prices are effective from March 12.
$1 = JPY 104.623