On November 15, SteelOrbis reported domestic H2 scrap purchasing prices by mini-mills in Tokyo, Osaka, and Nagoya regions at JPY 32,500-32,900/mt ($288-291/mt) delivered to customer.
Sources inform SteelOrbis that domestic scrap prices have increased again on domestic demand and export support. Purchasing prices by mini-mills in Tokyo, Osaka, and Nagoya regions are reportedly now at approximately 33,000-33,500/mt ($293-298/mt) delivered to customer. Prices have increased by JPY 500-600/mt or $5-7/mt.
A source noted that the higher scrap prices are consistent with higher steel prices announced by firms such as Tokyo Steel for December as well as the fact that several leading South Korean EAFs have also increased their bid prices for Japanese H2 export scrap.
$1= JPY 113.04, (Nov 15)
$1 = JPY 112.57, (Nov 20)