On April 4, SteelOrbis reported domestic Japanese H2 scrap prices for mini-mills in Tokyo, Osaka, and Nagoya regions at JPY 35,300-35,700/mt ($331-335/mt) delivered to customer. Shindachi scrap was reportedly at JPY 38,600-39,000/mt ($362-366/mt) delivered to customer at the time.
Sources inform SteelOrbis that domestic prices have shifted down further and domestic H2 scrap is now reportedly at JPY 34,800-35,100/mt ($324-327/mt) delivered to customer in the regions mentioned above. Prices declined $7/mt compared to the bottom of the previous range and $8/mt from the top of the same range in early April negotiations.
Shindachi scrap is reportedly at JPY 38,500-38,800/mt ($358-361/mt) delivered to customer at the time. Prices declined $4/mt compared to the bottom of the previous range and $5/mt compared to the top of the same range.
The price drop in dollar terms was slightly accentuated by the loss of value of JPY against the dollar.
USD = JPY 106.55 (Apr 4)
USD = JPY 107.43 (Apr 5)