Japan's domestic market prices of locally available ferrous scrap are in an adjustment stage. In the Kanto area, four electric steelmakers reduced their purchase prices of local ferrous scrap from March 6. Besides, Jonan Steel Works reduced its purchase prices again from March 9. As a result, speculation is arising that the Kanto market for local ferrous scrap may have turned downward. But increased arrivals of local ferrous scrap at various steelworks last week were believed to have ensued from a low level of shiploading volume of material in the Tokyo Bay area. Therefore, it would be still more time before the Kanto market shows a marked fall.
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