Despite some faltering in the early September Kanto Tetsugen scrap auction and the more recent Kansai scrap auction, sources inform SteelOrbis that domestic H2 scrap prices in Japan are trending up in JPY terms.
On September 20, SteelOrbis reported that domestic scrap prices in Japan trended up at mini-mills in Tokyo, Osaka, and Nagoya and were reportedly at JPY 35,700-35,900/mt ($317-319/mt) for H2 scrap and JPY 40,700-40,900/mt ($362-364/mt) for shindachi scrap, all prices delivered to customer.
According to recent information from sources close to SteelOrbis, prices in the corresponding regions are now at JPY 35,800-36,100/mt ($317-320/mt) for H2 scrap and JPY 40,900-41,200/mt ($362-365/mt) for shindachi scrap, all prices delivered to customer. In dollar terms, both scrap grades remained stable at the bottom of the respective ranges while increasing $1/mt from the top of the respective ranges.
USD = JPY 112.51 (Sep 20)
USD = JPY 112.92 (Sep 25)