Major Japanese EAF-based producer Tokyo Steel has continued to aggressively cut local scrap purchase prices, announcing new changes every two working days. On Tuesday, July 7, Tokyo Steel lowered its H2 scrap prices by JPY 500/mt ($4.6/mt) for three plants.
For Okayama, prices have dipped to JPY 23,000/mt ($214/mt) and for Kyushu to JPY 23,500/mt ($218/mt), with prices for Takamatsu falling to JPY 22,000/mt ($204/mt), delivered. The price at the Utsunomiya asset has remained the same at JPY 21,500/mt ($200/mt), which is the lowest among all the plants. The new prices are effective starting from July 8.
The latest deal price level for Japanese H2 scrap in the export market was at JPY 22,500/mt ($209/mt) FOB, as SteelOrbis reported earlier.