Japan: H2 scrap prices largely stable w-o-w in Nagoya region
Nagoya's steel scrap prices range from JPY 35,500 to 36,500/t amid limited availability as per the latest JMD report. Despite a minor increase after Kanto Iron Yuan's joint export bid, prices have stabilised. Overseas sources favour spot purchases, impacting domestic market conditions amid a lack of positive export news. Anticipatedly lower crude steel production prompts electric arc furnace companies to prioritise stable procurement and reduce electricity generation.