On September 7, SteelOrbis reported that domestic H2 scrap prices in Japan softened at mini-mills in Tokyo, Osaka, and Nagoya to JPY 35,400-35,700/mt ($319-321/mt) for H2 scrap delivered to customer. Shindachi scrap, on the other hand, remained reportedly stable at JPY 40,500-40,900/mt ($365-368/mt), prices delivered to customer.
Sources inform SteelOrbis that prices at mini-mills in the regions mentioned above are now reported at JPY 35,200-35,600/mt ($316-320/mt) for H2 scrap and at JPY 40,200-40,700/mt ($361-366/mt) for shindachi scrap, prices delivered to customer. Prices on H2 scrap decreased $3/mt from the bottom of the previous range and $1/mt from the top of the same range. Shindachi scrap decreased $4/mt from the bottom of the previous range and $2/mt from the top of the same range.
The downtrend on domestic scrap prices is attributed to both the slightly softer move in the recent Tetsugen scrap auction and non-existent active bids from some large mill buyers in the export market such as South Korea’s Hyundai Steel.
USD = JPY 111.08 (Sep 7)
USD = JPY 111.27 (Sep 12)