The USD has seen an increase against the Japanese yen recently, making it challenging for market participants to negotiate prices for Japanese steel products.
On August 7, the USD increased from 145 to 147 against the Japanese yen and closed the day at 146.25.
The rise of USD has benefited Japan's exports. However, buyers in Taiwan have noted that it has become challenging to negotiate prices, particularly for second-grade products, as Japanese trading companies and steel mills have maintained their prices since late July.
Market experts suggested that the increased anti-dumping measures against hot-rolled steel products from China, India, and Vietnam globally may also have contributed to the stability of high prices.
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