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TOKYO (Scrap Monster): Japanese domestic market scrap prices declined further by JPY 500/ ton on September 28th, affected by the price cut of Tokyo Steel.

In Kanto region, the major steelmakers including Asahi Metal, Godo Steel, Kanto Steel and JFE Steel have all announced to cut the scrap purchasing prices by JPY 500/ton on September 28th.

Accordingly, the H2 scrap base prices have fallen to JPY 23,500~JPY 24,000/ton in the Kanto region on September 28th.

Industry sources pointed out that the scrap market in Kanto region remained weak.

In Tokyo Bay region, the local steel mills have also cut the scrap purchasing prices by JPY 500/ton from September 28th to JPY 23,000/ton FAS.