In Japan’s Kanto region, EAF manufacturers cut scrap purchase prices by JPY 1,000/t ($7/t) after Tokyo Steel’s reduction on 2 Aug’24. H2 scrap is now priced at JPY 49,000-50,000/t ($344-351/t), marking the first dip below JPY 50,000/t ($345/t) in 2024. Despite high market conditions and a deep-rooted shortage, there sees room for further price decreases to counter exports.
Leave a Reply