On May 15, SteelOrbis reported that Japanese H2 scrap prices for mini-mills in Tokyo, Osaka, and Nagoya firmed up over the past week and prices on H2 were reportedly at JPY 33,400-33,900/mt ($303-307/mt) while shindachi (new cuttings) scrap was reportedly at JPY 37,200-37,500/mt ($337-340/mt), all prices delivered.
According to market sources, H2 domestic prices have moved up again and prices for the regions above are reportedly at JPY 33,700-34,100/mt ($303-307/mt) delivered. Shindachi also increased its prices to JPY 37,900-38,200/mt ($341-344/mt). Due to currency exchange fluctuations, H2 prices increased in domestic terms but remained stable week-on-week in dollar terms. For shindachi scrap, prices increased $4/mt from the previous range.
USD = JPY 110.37 (May 15)
USD = JPY 111.07 (May 21)