Tokyo Steel Manufacturing has decided to slash scrap buying prices for all grades at all works by ¥1,000/tonne ($11/t) effective from 25 September arrivals. Japan’s largest independent mini mill announced the cut to its buying prices on Thursday, the first day that Japan returned to work after a string of national holidays.
Prior to the start of the break last Saturday, mini mills had raised prices to ensure they had sufficient stocks when they increased production over the holidays.
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