Tokyo Steel cuts domestic scrap prices for first time since July 8

摘要

Singapore—Japan’s leading electric arc furnace mill, Tokyo Steel Manufacturing, has cut its local scrap buying prices for the first time since July 8, effective Jan. 14, despite the bullish results of January’s Kanto Tetsugen tender. The company's bids were cut by Yen 1,000/mt ($9.6/mt) for various scrap grades to its Utsunomiya plant effective Jan. 14, while listed prices at its other three mills remained unchanged. Bids for H2 deliveries to its Utsunomiya plant were down to Yen 42,000/mt, after the recent adjustment.