On October 5, 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 ($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.
According to sources close to SteelOrbis, domestic prices remain stable despite the withdrawal of scrap volumes in the recent October Kanto Tetsugen scrap auction on low bids. Domestic Japanese scrap prices are reportedly at JPY 36,100-36,400/mt ($321-324/mt), while shindachi scrap also reportedly remained stable at JPY 41,200-41,500/mt ($367-369/mt), all prices delivered to customer. Due to currency fluctuations, H2 scrap prices increased $4/mt while shindachi scrap increased $5/mt from the bottom of the previous range and $4/mt from the top of the same range.
USD = JPY 113.80 (Oct 5)
USD = JPY 112.33 (Oct 11)