On Friday, July 3, Tokyo Steel announced further cuts in its local scrap purchase prices. This time its prices for H2 scrap have been lowered by JPY 500-1,500/mt ($4.6-13.9/mt). For the Utsunomiya factory, prices have been reduced by JPY 1,500/mt to JPY 21,500/mt delivered, which indicates the largest decline among all plants and the highest drop compared to the previous change on Wednesday this week.
For Tahara, prices have declined by JPY 1,000/mt to JPY 22,500/mt delivered. For all three other assets – Okayama, Kyushu and Takamatsu - prices have been lowered by JPY 500/mt.
The new prices are effective from July 4.
