On September 29, SteelOrbis reported Japanese domestic H2 scrap prices to mills at approximately JPY 31,000-33,000/mt ($275-293/mt) delivered.
Sources inform SteelOrbis that domestic steelmakers in the Tokyo, Osaka and Nagoya regions are currently purchasing H2 scrap at JPY 30,000-31,300/mt ($264-275/mt) delivered. The new range represents a decline in domestic scrap prices in both JPY and dollar terms. In JPY, the wide range narrowed and declined by JPY 1,000/mt from the bottom of the previous range and JPY 1,500/mt from the top of the same range. In dollar terms, the range fell $11/mt from the bottom of the previous range and $18/mt from the top of the same range.
The decline in Japanese domestic scrap prices has also softened H2 export offers. Scrap offers to Taiwan, for example, are reportedly at $295-300/mt CFR, which generally translates to JPY 30,700-31,300/mt FOB. Japanese H2 scrap offers to Taiwan were at approximately $300-305/mt CFR in late September, reflecting a decline of $5/mt.
$1=JPY 112.61, (Sept 27)
$1=JPY 113.74, (Oct 23)