Tag: JPY USD exchange rate
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Japan: The yen drops to 4-decade low – how will it influence ferrous scrap export prices?
JPY falls to its weakest level since 1986, improving exporters’ pricing flexibility Domestic mill procurement remains biggest determinant of scrap export prices The Japanese yen has weakened beyond JPY 162 per US dollar, its lowest level since 1986, renewing expectations that Japanese ferrous scrap could become increasingly competitive across Asian import markets. Conventional market wisdom…