On June 15, SteelOrbis reported that Tokyo Steel reduced the H2 scrap buying price by JPY 500/mt at Utsunomiya site for the second time in June. Sources report that as of June 21, Tokyo Steel has reduced the scrap purchase price for Utsunomiya by JPY 500/mt for the third time and is now reportedly at JPY 35,500/mt ($323/mt). Compared to JPY 36,000/mt ($325/mt) delivered in previous report, prices declined by $2/mt.
Tokyo Steel has also reportedly decreased the scrap buying price at its Tahara site by JPY 500/mt and is presently at JPY 35,000/mt ($319/mt) delivered. Compared to JPY 35,500/mt ($321/mt) delivered on June 15, prices declined by $2/mt.
USD = JPY 110.62 (Jun 15)
USD = JPY 109.89 (Jun 21)