It's reported that the H2 scrap base prices dropped further by ￥500/ton to ￥31,000~￥31,500/ton in the Japanese Tokyo Bay region on April 22nd, affected by price cut of ￥500/ton made by the local traders.
Industry sources said that the local traders decided to decrease scrap prices since Tokyo Steel announced to cut its scrap purchasing prices by ￥500/ton on April 20th.
Also, the base prices of P&S scraps and Shindachi scraps dropped by ￥500/ton to ￥33,500~￥34,500/ton on April 22nd.