Tag: weak overseas market

Japanese EAF manufacturers in Kanto cut scrap prices amid high inventory, weak overseas demand

Sep 5, 2024

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by

Adarsh Ramteke

in Melting Scrap

JMD: Electric arc furnace (EAF) manufacturers in Japan’s Kanto region have reduced scrap prices by JPY 500/t ($3/t) three times in recent weeks. These cuts have enabled producers to maintain inventory levels and remain competitive amid weak overseas market conditions. Post-revision, H2 scrap prices stood at JPY 43,500/t–45,000/t ($303/t–314/t). Following Tokyo Steel’s recent price reductions,…