It's reported that the scrap prices have remained weak in the Japanese domestic market after Tokyo Steel announced to cut its scrap purchasing prices again by ￥500~￥1,000/ton on October 26th.
At present, the base prices of H2 scraps are at ￥21,500~￥22,500/ton in the Japanese Kanto region.
It's learned that the Japanese steel mills including Godo Steel, JFE Bars & Shapes and Tokyo Tekko have all cut scrap purchasing prices by ￥500/ton after Tokyo Steel reduced prices by ￥500/ton.
In Osaka region, the base prices of H2 scrap were at ￥22,000~￥22,500/ton on October 26th. It's known that the local mills including Kyoei Steel, Shinkansai Steel and Nakayama Steel have all cut the scrap purchasing prices by ￥500/ton on October 26th.