On Friday, June 26, Tokyo Steel announced a change in its local scrap purchase prices. Prices for H2 scrap has been lowered by JPY 1,000/mt ($9.3/mt) to JPY 25,000/mt ($234/mt) delivered to the Utsunomiya plant, while prices for the other four assets have been left unchanged. Prices are effective from June 27.
The company had lowered prices for Utsunomiya on June 24 after the previous long-standing uptrend. This time, the price cut was bigger than the JPY 500/mt ($4.7/mt) in the previous announcement on June 24.
