On October 19, SteelOrbis reported that domestic scrap prices in Japan continued trending stable since early in the month at mini-mills in Tokyo, Osaka, and Nagoya. H2 domestic scrap prices have continued to trend stable at JPY 36,100-36,400/mt ($321-323/mt) and shindachi scrap at JPY 41,200-41,500/mt ($366-369/mt), all prices delivered to customer. In dollar terms, H2 prices only softened slightly and given the strong global scrap supply-demand balance at the moment, prices were expected to continue trending stable.
Sources inform SteelOrbis that prices in the relevant regions are indeed trending stable early in the week. H2 domestic scrap prices are reportedly at JPY 36,100-36,400/mt ($322-324/mt) and shindachi scrap at JPY 41,200-41,500/mt ($367-370/mt), all prices delivered to customer. In dollar terms, both scrap grades increased $1/mt on currency fluctuations.
USD = JPY 112.52 (Oct 18)
USD = JPY 112.19 (Oct 23)