On February 6, SteelOrbis reported domestic H2 scrap prices in Japan at mini-mills in Tokyo, Osaka, and Nagoya at JPY 29,900-30,100/mt ($272-274/mt) while shindachi scrap also remained stable at JPY 34,900-35,300/mt ($317-321/mt), all prices delivered to customer.
Despite the recent increase in the February Kanto Tetsugen scrap auction, sources report that the domestic market remains stable, as the highest winning big average reflected demand for export. H2 domestic scrap is still reportedly at JPY 29,900-30,100/mt ($271-272/mt) while shindachi scrap also remains stable at JPY 34,900-35,300/mt ($316-319/mt), all prices delivered to customer. Due to currency fluctuations, H2 and shindachi scrap grades both decreased by $1/mt from the bottom of the previous ranges and $2/mt from the top of the same ranges.
USD = JPY 109.97 (Feb 6)
USD = JPY 110.53 (Feb 14)