Scrap prices fall further in Japan

TOKYO (Scrap Monster): Scrap prices have declined further to JPY 23,000~ JPY 23,500/ton in the Japanese Osaka market3 on October 10th.

According to the dealers, dropped scrap prices were caused by the fact that Tokyo Steel cut the scrap purchasing prices further by JPY 500/ton on October 6th.

It's learned that the steel mills in the Japanese Osaka region including Osaka Steel and Kishiwada Steel have reduced the scrap purchasing prices by JPY 1,000/ton after Tokyo Steel announced to cut its scrap purchasing prices on October 6th.