Japanese electric steel producer Tokyo Steel Manufacturing has cut buying prices for all grades of ferrous scrap delivered to all its steelworks by Yen 500/ mt ($4) effective Thursday morning, the company said. From Thursday, Tokyo Steel is paying scrap collectors Yen 22,500/mt ($181) for H2 grade scrap delivered to its Utsunomiya steel works north of Tokyo and to its Okayama and Kyushu works, both in western Japan.
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