On April 27, SteelOrbis reported domestic Japanese H2 scrap prices for mini-mills in Tokyo, Osaka, and Nagoya regions slightly up week-on-week at JPY 33,000-33,300/mt ($302-305/mt) delivered to customer. Shindachi (new cuttings) scrap was reportedly at JPY 36,900-37,300/mt ($338-342/mt) delivered to customer.
Sources inform SteelOrbis that Japanese H2 scrap prices for the mini-mills mentioned above have firmed up over the past week. Prices on H2 are reportedly at JPY 33,200-33,700/mt ($304-309/mt). Prices increased $2/mt from the bottom of the previous range and $4/mt from the top of the previous range.
Shindachi scrap encountered slight downward pressure with a price erosion of JPY 100/mt from the top of the previous range to JPY 36,900-37,200/mt ($338-341/mt), all prices delivered. In dollar terms, prices declined $1/mt from the top of the previous range. Sources noted that prices at some large mills were slightly higher, especially, at Tokyo Steel’s Tahara site.
USD = JPY 109.12 (Apr 27)
USD = JPY 109.09 (May 7)