On July 11, SteelOrbis reported domestic H2 scrap prices stable at JPY 34,300-34,500/mt ($309-311/mt) for H2 scrap and at JPY 38,700-39,000/mt ($349-351/mt) for shindachi scrap, all prices delivered.
Sources inform SteelOrbis that prices are trending stable at JPY 34,300-34,500/mt ($305-307/mt) for H2 scrap and at JPY 38,700-39,000/mt ($345-347/mt) for shindachi scrap, all prices delivered. Due to currency fluctuations, prices declined $4/mt on both H2 scrap and shindachi scrap.
Market sources inform SteelOrbis that South Korea’s Hyundai Steel retained its H2 bid price at JPY 33,000/mt ($294/mt) FOB Japan, down $5/mt compared to the July 6 bids heard in the market. Bids from South Korean mills for the best Japanese prime grade are reportedly up to JPY 6,000-8,000/mt ($53-71/mt) higher than bids for H2 scrap.
Additionally, sources report that Tokyo Steel has maintained its domestic scrap prices stable at Utsunomiya plant (JPY 35,500/mt, $316/mt) and at Tahara plant (JPY 35,000/mt, $312/mt), but the Okayama plant, which has one of the lowest prices for Tokyo Steel sites, has increased scrap buying prices by JPY 1,000/mt and is now JPY 32,500/mt. all prices delivered.
USD = JPY 110.96 (July 10)
USD = JPY 112.32 (July 13)