Local quotations in Japan's Kantō region for H2 grade scrap have increased by approximately JPY 1,150/mt ($11/mt) compared to price levels recorded on June 29 and are now at JPY 19,800/mt ($192/mt) delivered to customer.
On the other hand, SteelOrbis has been informed that Japanese offers to Vietnam for H2 grade scrap have increased by $20/mt since June 13 to $245/mt CFR. Meanwhile, this week a Japanese supplier concluded a deal in Vietnam for bonus grade scrap as break bulk cargo at $252/mt CFR, for August shipment.
Japan's overall scrap export volumes are currently at decent levels, while Vietnamese buyers are expected to continue buying Japanese scrap just in line with their needs following the abovementioned deal concluded at $252/mt CFR. During the past month, hardly any ex-Japan scrap transactions have been heard in Vietnam.
$1 = JPY 103.299