On September 12, SteelOrbis reported recent Japanese H2 scrap trades to South Korean mills at JPY 32,000-32,500/mt ($291-295/mt) FOB which translated to approximately $320-324/mt CFR South Korea. Active H2 export offers were reportedly at 32,500-33,000/mt ($295-300/mt) FOB.
According to sources, recent purchases of Japanese H2 by South Korean mills have traded at 32,500/mt ($295/mt) FOB. As a result, H2 export offers increased to JPY 33,000-33,250/mt ($296-299/mt) FOB. The increase of JPY 500 is supported by domestic prices at JPY 31,000-33,000/mt ($278-296/mt) delivered and local scrap prices for exporters at the docks at JPY 31,500-32,000/mt ($283-287/mt) FAS.
In dollar terms, though, the offer range is generally the same as a week ago due to currency fluctuations. Specifically, the new offer range is $1/mt higher from the bottom of the previous range and $1/mt less from the top of the same range.
$1=JPY 110.05, (Sept 12)
$1=JPY 111.34, (Sept 20)