On August 14, SteelOrbis reported that domestic scrap prices in Japan increased at mini-mills in Tokyo, Osaka, and Nagoya to JPY 34,700-34,900/mt ($312-314/mt) for H2 scrap while shindachi scrap increased to JPY 39,600-40,000/mt ($356-360/mt), all prices delivered to the customer. Due to currency fluctuations, prices were mostly stable in dollar terms.
According to sources, domestic scrap prices are showing strength and, in the regions mentioned above, are presently at JPY 34,700-35,000/mt ($314-316/mt) for H2 scrap while shindachi scrap remained stable at JPY 39,600-40,000/mt ($358-362/mt), all prices delivered to customer. Due to currency fluctuations, prices increased $2/mt across both scrap grades in dollar terms. Additionally, sources inform SteelOrbis that Tokyo Steel has raised scrap purchase prices at several of its sites. Tokyo Steel scrap purchasing prices traditionally trend higher than the norm at the mini-mills in the Tokyo, Osaka, and Nagoya regions.
USD = JPY 111.20 (Aug 14)
USD = JPY 110.61 (Aug 17)