Japanese scrap price softens
Japanese H2 grade
scrap price has lost about Yen 2,000/mt during the last ten days or so, and hit Yen 26,000/mt level in local market, particularly as a result of recent price moves of Tokyo Steel. Some traders say prices will drop further as a result of downward pressure from export markets. However there also other traders in the market expecting that
scrap price will pick up sooner rather than later because there is not a lot of supply in the market.