On September 28, SteelOrbis reported that domestic scrap prices in Japan trended up at mini-mills in Tokyo, Osaka, and Nagoya and were reportedly at JPY 36,000-36,300/mt ($317-320/mt) while shindachi scrap reportedly also increased to JPY 41,100-41,400/mt ($362-365/mt), all prices delivered to customer. Due to a slight devaluation of the JPY against the dollar, prices remained stable in dollar terms compared to September 25.
According to sources close to SteelOrbis, H2 scrap prices have ticked up again and are currently at JPY 36,100-36,400/mt ($317-319/mt) while shindachi scrap has reportedly also increased to JPY 41,200-41,500/mt ($361-364/mt), all prices delivered to customer. Due to currency fluctuations, September 28 H2 prices decreased $1/mt from the top of the previous range while maintaining the bottom of the range. Shindachi scrap decreased $1/mt on both sides of the range.
USD = JPY 112.92 (Sep 25)
USD = JPY 113.57 (Sep 28)
USD = JPY 113.99 (Oct 1)