In Japan’s Nagoya region, ferrous scrap prices are weakening, with H2 scrap prices hovering at JPY 36,000-37,000/t ($229-235/t). Notably, Tokyo Steel’s Tahara Plant recently reduced raw material purchase prices due to suspended steelmaking amidst equipment damage. The market decline is limited, with electric furnaces’ trends closely monitored. Additionally, export contracts remain scarce, and demand from Korean buyers for high-end varieties was found low.
