On December 7, SteelOrbis reported domestic H2 scrap purchasing prices by mini-mills in Tokyo, Osaka, and Nagoya regions at JPY 34,000-34,700/mt ($302-308/mt) delivered to customer.
Sources inform SteelOrbis that domestic H2 scrap prices have increased in the Tokyo, Osaka, and Nagoya regions and are presently at JPY 34,600-35,000/mt ($304-308/mt). While the scrap ranges increased JPY 600 from the bottom of the previous range and JPY 300/mt from the top of the same range, in dollar terms, the top of the range remained stable while the bottom increased $2/mt due to currency fluctuations. The increase is attributed to strong export and domestic demand.
Tokyo Steel has maintained scrap buying prices higher compared to the average buying price from the Tokyo, Osaka and Nagoya regions reported above. It increased scrap buying prices at its Utsunomiya facility this week by JPY 500/mt ($4/mt) making H2 scrap presently at JPY 36,000/mt ($317/mt) on a delivered basis.
$1=JPY 112.70 (Dec 7)
$1= JPY 113.63 (Dec 12)