Domestic Market in July Would Keep Stable Tone

摘要

Domestic market in July would be likely to keep stable tone in July. In the overseas market, the rebound of thecontract price of Western ferrous scrap for Turkey progressed, and it is expected that the domestic market in the U.S.would keep firmer tone. These price increases of the international market are a tail wind for the domestic market. If theinternational market kept firmer tone, it is expected that the export price, which had advanced the domestic market inlower price, would be likely to touch a bottom. But the Kanto market was correcting a high price from the end of June,and the market was filled with bearish sentiment after July. In the Osaka area, it is expected that the demand woulddecline by the temporal shut down of electric furnace by electric steelmakers in the area. Many suppliers expected thatthe market would decline gradually.