Japan: H2 scrap export offers drop further by JPY 500/t ($3/t) w-o-w on weak demand

Japanese H2 scrap export offers decreased by JPY 500/t ($3/t) this week, bringing the price down to JPY 47,000/t ($318/t) FOB Tokyo Bay. This decline is driven by weak demand from major importing countries. For example, Vietnam has shown limited interest due to a drop in domestic steel and scrap prices, indicating sluggish demand. Korean mills have also focused on domestic scrap procurement.