On May 21, SteelOrbis reported that Japanese H2 scrap prices for mini-mills in Tokyo, Osaka, and Nagoya moved up to JPY 33,700-34,100/mt ($303-307/mt) delivered while shindachi (new cuttings) scrap prices increased to JPY 37,900-38,200/mt ($341-344/mt).
Sources report that domestic prices have continued climbing and are now reportedly at JPY 34,100-34,400/mt ($310-313/mt) for H2 scrap. Prices increased $7/mt from the bottom of the previous range and $6/mt from the top of the same range.
For shindachi scrap, prices increased to JPY 38,200-38,400/mt ($347-349/mt) delivered. Prices increased $6/mt from the bottom of the previous range and $5/mt from the top of the same range.
A source noted that Tokyo Steel, which usually has higher prices than the mini-mills in regions noted above, has increased its H2 scrap purchase price for at its Utsunomiya site to JPY 36,000/mt ($327/mt) delivered. At its Tahara site, the H2 scrap purchasing price is reportedly at JPY 35,750/mt ($325/mt) delivered, but it is expected to also increase since traditionally prices at the Tahara site trend higher than those at the Utsunomiya site.
USD = JPY 111.07 (May 21)
USD = JPY 109.97 (May 23)