On March 14, SteelOrbis reported domestic Japanese H2 scrap prices for mini-mills in Tokyo, Osaka, and Nagoya regions up at JPY 36,100-36,400/mt ($340-342/mt) delivered to customer and the equivalent of prime busheling scrap (New Cuttings or Shindachi scrap) at JPY 39,200-39,500/mt ($369-372/mt) delivered to customer.
Sources inform SteelOrbis that Japanese H2 scrap prices for mini-mills in the regions mentioned above are now at JPY 36,300-36,550/mt ($341-343/mt) delivered to customer. Despite a slight erosion in local currency value against the dollar, prices increased $1/mt from the previous range.
Shindachi scrap is now reportedly at JPY 39,500-39,850/mt ($371-374/mt) delivered to customer. The price reflects an increase of $2/mt since mid-March prices.
Sources report that export bids from South Korean mills have remained stable over the past two weeks which has further supported domestic prices. Concerns ensued before the country was granted a permanent exemption to Section 232 steel tariffs, but scrap prices are stable at the moment.
USD = JPY 106.29 (Mar 14)
USD = JPY 106.45 (Mar 29)