Toyota Tsusho Material was awarded 15,000 tonnes of Japanese H2 grade scrap at JPY46,226/t ($343.14/t) in the latest tender on 10 May. Another 5,500 tonnes was awarded to Houei Trading at JPY46,030/t ($341.69/t). The average tender price of JPY46,173/t ($342.75/t) was JPY4,383/t ($32.54/t) lower than last month's tender on 11 April. A total of 13 companies participated in the tender on Wednesday, offering a total of 66,700 tonnes.
In line with the Kanto results, Tokyo Steel, a leading electric arc furnace operator, cut its purchase price for H2 grade scrap by JPY2,000-2,500/t ($14.85-18.56/t) at several steel mills and steel centres. The company cut its purchase prices for H2 scrap trucked to its Utsunomiya steel mill by JPY2,000/t ($14.85/t) to JPY47,000/t ($348.89/t), effective 11 May. The company was previously paying JPY49,000/t ($363.73/t) from 26 April to 10 May.
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