On July 28, SteelOrbis reported Japanese H2 scrap trading to South Korean mills at JPY 29,500/mt FOB Tokyo Bay or approximately $287-290/mt CFR South Korea.
According to sources, several South Korean mills are purchasing Japanese H2 scrap for import at JPY 30,000/mt ($271/mt) FOB Tokyo Bay. This translates to approximately $293-295/mt CFR South Korean port. In the past week, trade prices increased by $5-6/mt. Japanese H2 offer prices are reportedly stable in both JPY and dollar terms at JPY 30,600-31,000/mt ($275-280/mt) FOB Tokyo Bay, but may increase as the Tetsugen scrap auction on August 9 approaches.
$1=JPY 110.60, 7/28/2017
$1=JPY 110.81, 8/04/2017