On July 17, SteelOrbis reported stable prices in the Japanese domestic H2 scrap market. The latest data was in reference to deals closing on Friday. Sources inform SteelOrbis that updated data into mid-week continues to trend stable in both JPY and dollar terms at JPY 34,300-34,500/mt ($304-306/mt) for H2 scrap and at JPY 38,700-39,000/mt ($343-346/mt) for shindachi scrap, all prices delivered.
Sources inform SteelOrbis that Tokyo Steel, a leading EAF mill in the country, has announced carrying over July list prices on HRC, beam and other products into August. For the past several months, list prices have remained frozen after strong increases through February that are yet to fully be absorbed by the market.
Market sources also inform SteelOrbis that while maintenance shutdowns are expected throughout various Tokyo plants in late July to early August, most Tokyo Steel plants continue purchasing scrap at stable prices. The Tahara plant is reportedly flat at JPY 35,000/mt ($310/mt) while the Utsunomiya plant is also flat at JPY 35,500/mt ($315/mt), all prices delivered. The Okayama plant in western Japan though has increased JPY 500/mt to JPY 33,000/mt ($293/mt) delivered this week as it prepares to shut down from July 23 to July 27.
USD = JPY 112.84 (Jul 17)
USD = JPY 112.78 (Jul 18)