Steel scrap prices decreased in Japan on March 19-20. The subsequent decline in prices in overseas trade affected the Japanese market negatively.
After Tokyo Steel lowered its ferrous scrap purchase prices from 55,164/ton ($418) to 53,171/ton ($407) on March 25, price reduction movement spread in the country.
Meanwhile, demand for steel materials and ferrous scrap remains sluggish in South Korea and Vietnam, Japan's main export routes. Indirectly, the demand for real estate construction also decreased.
Comments
No comment yet.