Steel Scrap Market Continues to Fall / No Signs of a Bottoming Out / H2 Export Price Drops Below 40,000 yen

Domestic steel scrap prices continue to decline. On the 10th, Tokyo Steel lowered its purchase price for all grades of steel scrap by 500 yen per ton at all its locations. The drop at each location has reached 7,500yen to 9,500yen from the highest price this year, with the special-grade price (equivalent to H2) falling below 44,000yen per ton. The export price for H2 (FAS) has dropped below 40,000yen per ton at the Kanto coastal area for the first time in 2 years and 1 month, and currently, there are no signs of the decline coming to a halt.