Deformed bar market is the stalemate in Kanto area (East market). On the other hand, in Kansai area (West market), it starts to give bearish tone. Grate difference is whether or not there is demand. Difference of east and west market might become clear because demand is firm in Kanto area due to big projects but in Kansai demand is dropping substantially and distributors tend to deal at a discount in order to get new contracts.
Japan Steel Scrap Composite Prices (Sangyo Press)08/08/2022
|40900YEN (-)||43900YEN (-)|
|299.99US$ (-5.19)||321.99US$ (-5.57)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)