Japan: Tokyo Steel cuts Kansai scrap purchase prices by $3/t

• Tokyo Steel keeps prices at other plants unchanged
  
  
• Domestic market remains firm despite price corrections
  
  

Tokyo Steel reduced scrap purchase prices by JPY 500/t ($3/t) at its Kansai plant, effective 23 May, taking prices to JPY 53,500/t ($336/t), while prices at other plants remained stable. Meanwhile, price announcements for the Takamatsu plant remained suspended.

However, Japan's domestic scrap market remained largely firm, supported by stable buying interest, tight scrap availability, and steady export demand. Firm overseas steel prices and elevated freight costs also continued supporting overall market sentiment.