Japan: EAF manufacturers in Kanto region cut scrap procurement prices by $11/t

Electric arc furnace (EAF) manufacturers in Japan's Kanto region cut scrap procurement prices by JPY 1,500/t ($11/t), with H2 prices dropping below JPY 40,000/t ($283/t) for the first time in over two years. Tokyo Steel's Utsunomiya plant and other manufacturers reduced prices due to weakening overseas demand and JPY appreciation. H2 prices now range from JPY 36,500-40,500/t ($258-286/t).