On October 2, SteelOrbis reported that domestic scrap prices in Japan were trending stable at mini-mills in Tokyo, Osaka, and Nagoya and were reportedly at JPY 36,100-36,400/mt ($318-320/mt) for H2 scrap while shindachi scrap also reportedly remained stable at JPY 41,200-41,500/mt ($362-365/mt), all prices delivered to customer.
Sources inform SteelOrbis that for the week ended October 5, Japanese H2 scrap has remained stable at JPY 36,100-36,400/mt ($317-320/mt), while shindachi scrap also reportedly remained stable at JPY 41,200-41,500/mt ($362-365/mt), all prices delivered to customer. In dollar terms, prices also remained stable except for the bottom of the H2 range, which declined slightly by $1/mt on currency fluctuations.
Tokyo Steel has reportedly maintained its scrap buying prices at the major plants through the week and only announced a JPY 500 increase at Kyushu Works to “bring it closer in line with the other sites.”
USD = JPY 113.67 (Oct 2)
USD = JPY 113.80 (Oct 5)