On July 20, SteelOrbis reported that Japanese domestic H2 scrap prices continued to trend stable at mini-mills in Tokyo, Osaka, and Nagoya at JPY 34,300-34,500/mt ($308-309/mt) while shindachi scrap prices ticked up slightly on tight supply at JPY 38,800-39,100/mt ($348-351/mt), all prices delivered.
Sources close to the market now inform SteelOrbis that prices for H2 and shindachi scrap continue at the same JPY levels despite the softness in the global markets over the past week due to strong domestic demand. H2 scrap is reportedly at JPY 34,300-34,500/mt ($309-311/mt) while shindachi scrap prices are at JPY 38,800-39,100/mt ($350-353/mt), all prices delivered. Due to currency fluctuations, H2 scrap prices increased $1/mt from the bottom of the previous range and $2/mt from the top of the same range while shindachi scrap increased $2/mt.
USD = JPY 111.50 (Jul 20)
USD = JPY 110.84 (Jul 25)