On July 3, SteelOrbis reported domestic H2 scrap prices stable but up slightly on shindachi high grade scrap in dollar terms due to currency fluctuations.
SteelOrbis reported buying prices for mini-mills in Tokyo, Osaka, and Nagoya H2 scrap at JPY 34,200-34,400/mt ($309-311/mt) for H2 scrap and at JPY 38,600-38,900/mt ($349-352/mt) for shindachi scrap, all prices delivered.
Sources inform SteelOrbis that the South Korean scrap buyer Hyundai Steel has reportedly continued offers for H2 scrap stable at JPY 33,000/mt ($299/mt) FOB Tokyo while it has increased the bid for high grade scrap grades by JPY 1,000/mt ($9/mt) to obtain required tonnage.
The continued demand for Japanese scrap has reportedly slightly increased domestic prices to JPY 34,300-34,500/mt ($310-312/mt) for H2 scrap and at JPY 38,700-39,000/mt ($350-353/mt) for shindachi scrap, all prices delivered. All prices increased domestically by JPY 100/mt and $1/mt in dollar terms.
USD = JPY 110.58 (Jul 3)
USD = JPY 110.51 (Jul 6)