Japan: Tokyo Steel lowers scrap procurement prices for third consecutive time in a week

• Tokyo Steel has cut domestic ferrous scrap procurement prices for the third time this week, effective 27 Jul'24. Prices dropped by JPY 500/t ($3/t) at Okayama, Takamatsu, and Utsunomiya plants.
• New prices at Okayama, Takamatsu and Utsunomiya plants are at JPY 49,000/t ($319/t), JPY 48,700/t ($317/t), and JPY 51,000/t ($332/t) respectively.
• Overall, during the week prices fell JPY 500/t ($3/t) at Tahara, JPY 1,000/t ($7/t) at Utsunomiya and JPY 1,500/t ($10/t) at Okayama.