Singapore—Tokyo Steel Manufacturing, Japan’s key electric arc furnace steelmaker, quelled regional doubts over a possible Japanese scrap price rebound as it announced Friday a cut in bids for all grades delivered to its Utsunomiya and Tahara mills, effective April 11, sources said. The company’s bids for H2 grades across both mills were cut by Yen 500/mt ($4.60/mt), with its Utsunomiya plant’s H2 prices falling to Yen 18,500/mt ($171/mt), delivered to mill.
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