Singapore—Japan’s leading electric arc furnace steelmaker, Tokyo Steel Manufacturing, again slashed its bid level for domestic scrap to be used at its Kyushu plant, marking the eleventh cut within a month and a half, the company said Wednesday. The bids for H1, H2 and Shindachi grades will be dropped by Yen 500/mt ($4.8/ mt) effective Thursday. This will bring the company's H2 bid level to Yen 18,000/mt ($171/mt) for deliveries to its Kyushu plant, it said.
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