Japan Tokyo Steel cuts scrap purchase prices

Tokyo Steel Japan's largest steelmaker has lowered scrap purchase prices for the second time this week.
The company has slashed bids by JPY 1,000/t ($7/t) for three of its steelworks - Okayama, Kyushu and Takamatsu - effective 29 Jun.
Post revision, the bid prices for H2 scrap are at JPY 53,000/t ($390) delivered to the Okayama and Kyushu plants, while prices for Takamatsu are at JPY 52,000/t ($383).