Domestic October Ferrous Scrap Market Likely Remains Unchanged

摘要

The domestic ferrous scrap market entered October with its trend being uncertain. Overseas market has entered to an adjustment phase to revise a high price since the latter half of September. As the new export market price from Japan turned to a downward trend, an increasing number of observers, especially in the Kanto area, are concerned about the domestic market future development. On the other hand, it is said that there is few sentiment of abundant cargos especially in the Kanto area due to the supply and demand balance being maintained. A bullish view has been persistent in the Kansai area. As Tokyo Steel, which is a price leader, keeps its purchasing price unchanged, a trading source says that this month’s domestic market “may be in an unchanged trend.”