On September 19, SteelOrbis reported that domestic H2 scrap prices in Japan trended up at mini-mills in Tokyo, Osaka, and Nagoya and were now reportedly at JPY 35,400-35,700/mt ($315-318/mt) while shindachi scrap remained stable at JPY 40,500-40,900/mt ($361-364/mt), all prices delivered to customer.
According to sources close to SteelOrbis, domestic spot scrap prices have increased and are now reportedly at JPY 35,700-35,900/mt ($317-319/mt) for H2 scrap and JPY 40,700-40,900/mt ($362-364/mt) for shindachi scrap, all prices delivered to customer. H2 scrap prices increased $2/mt from the bottom of the previous range and $1/mt from the top of the same range. Due to currency fluctuations, shindachi scrap increased $1/mt from the bottom of the previous range and remained stable on top of the same range.
The increase in domestic prices is reportedly supported by recent increases in Tokyo Steel scrap buying prices.
USD = JPY 112.51 (Sep 20)