In Japan’s Nagoya region, ferrous scrap prices held steady at JPY 37,500-38,000/t ($254-257/t) as market participants adopted a wait-and-see stance following Tokyo Steel’s recent announcement of a reduction in scrap procurement prices by JPY 2,000/t ($14/t) for the Utsunomiya plant. EAF producers in the district are planning to increase crude steel production, but with stable demand for raw materials expected, they are compelled to focus on stable procurement.
