Japan: Steel scrap prices drop by JPY 500/t ($4/t) in Kansai region

In Japan’s Kansai region, EAF steel mills have decided to cut scrap purchase prices by JPY 500/t ($4/t), with H2 scrap prices now at JPY 42,000-43,000 ($295-302/t). Production levels are expected to fall 15-20% m-o-m due to weak demand, furnace shutdowns, and prior overproduction. Despite slight increases in factory and demolition scrap, market conditions remain sluggish, and inventories are low.