Japanese H2 scrap export prices are presently at JPY 27,000-27,500/mt ($248-253/mt) FOB Tokyo Bay which translates to dock prices of JPY 25,100-26,000/mt ($231-239/mt) FAS at port of origin. Domestic mills are heard paying JPY 29,000-30,000/mt ($267-275/mt) delivered to mill, which is limiting the downtrend of the export market, according to sources.
On April 13, SteelOrbis reported H2 export prices at JPY 27,000-28,000/mt ($248-257/mt) FOB Tokyo Bay with dock prices at JPY 26,000-27,000/mt ($239-248/mt) FAS at port of origin. Due to exchange rate fluctuations, prices this week reflect a decrease in dollar terms of $4/mt on the upper end of the range on export prices and a decline of $8-9/mt on dock prices.
Several deals on Japanese H2 scrap this week have been heard transacted at JPY 29,500/mt ($271/mt) CFR South Korea.
On April 14, H2 scrap was heard sold at JPY 30,333/mt ($278/mt) CFR Vietnam for June delivery which translated to approximately JPY 27,200/mt ($247/mt) FOB Tokyo Bay. Additionally, several South Korean mills were heard booking A3 scrap from Russia at $273/mt CFR South Korea. This price is approximately $5-6/mt lower than previous A3 deals, according to sources.
$1=JPY 108.97 04/13/2017
$1=JPY 109.11, 04/14/2017
$1=JPY 108.81, 04/19/2017