On August 9, SteelOrbis reported that domestic scrap prices in Japan increased slightly again on support from the August Tetsugen scrap auction. Scrap buying prices at mini-mills in Tokyo, Osaka, and Nagoya were reportedly at JPY 34,400-34,800/mt ($310-314/mt) for H2 scrap while shindachi scrap also increased slightly to JPY 39,000-39,400/mt ($352-355/mt), all prices delivered.
Sources inform SteelOrbis that prices for H2 scrap have remained stable at JPY 34,400-34,800/mt ($310-314/mt) while shindachi scrap, which is considered a prime scrap grade, has increased to JPY 39,400-39,800/mt ($356-360/mt), all prices delivered to customer. In dollar terms, prices remain stable for H2 scrap while they increased for shindachi scrap by $4/mt from the bottom of the previous range and $5/mt from the top of the same grade.
USD = JPY 110.93 (Aug 9)
USD = JPY 110.69 (Aug 13)