On December 22, SteelOrbis reported Japanese domestic H2 scrap purchasing prices by mini-mills in Tokyo, Osaka, and Nagoya regions at JPY 35,100-35,500/mt ($310-313/mt) delivered to customer. In dollar terms, due to currency fluctuations, prices remained stable from mid-December.
Scrap buying prices domestically continue at JPY 35,100-35,500/mt ($312-315/mt) delivered to customer. In dollar terms, prices firmed slightly up on currency fluctuations.
Sources note the recent announcement by Shagang Jiangsu Steel, China’s largest scrap consumer in China, to reduce its scrap buying prices by CNY 30/mt ($5/mt). The announcement is viewed as a potential influencer that may tame global scrap prices in early January.
$1= JPY 113.27 (Dec 22)
$1= JPY 112.63 (Dec 29)