Tokyo Steel, the main EAF-based steel producer in Japan, has as expected announced another decrease in scrap purchase prices for its plants, aiming to take advantage of the downtrend in the global raw material markets.
Specifically, the company has announced a JPY 500/mt ($4.5/mt) decrease in its prices for H2 scrap at all its plants. As a result, the purchase prices for H2 have been settled at JPY 47,0000-49,500/mt ($427-450/mt), with the highest price valid for the Okayama plant and the lowest for the Takamatsu mill, SteelOrbis has learned.
At the same time, the company has reduced its scrap purchase prices for shindachi scrap by JPY 500/mt ($4.5/mt) at all its plants, excluding the Okayma mill. As a result, the new local shindachi scrap prices have been fixed at JPY 49,500-54,000/mt ($450-491/mt). All prices are delivered and effective from August 28.