On Feb 5, SteelOrbis reported domestic Japanese scrap prices for mini-mills in Tokyo, Osaka, and Nagoya regions at JPY 36,000-36,300/mt ($327-330/mt) delivered to customer.
According to sources close to the market, domestic EAF buyers in those regions have adjusted prices downward on export effects as well as reduced price announcements by large steelmakers such as Tokyo Steel.
Domestic scrap buying prices in the Tokyo, Osaka, and Nagoya regions are now reportedly at JPY 35,500-35,800/mt ($327-329/mt) delivered to customer. While the domestic price range has declined by JPY 500/mt, prices have remained generally stable in dollar terms due to the strength of the domestic currency.
USD = JPY 109.94 (Feb 5)
USD = JPY 108.68 (Feb 8)