On March 27, SteelOrbis reported domestic H2 scrap prices in Japan at mini-mills in Tokyo, Osaka, and Nagoya at JPY 33,800-34,000/mt ($306-308/mt) for H2 scrap and JPY 38,900-39,200/mt ($352-355/mt) for shindachi scrap, all prices delivered to customer.
Sources inform SteelOrbis that H2 scrap continues to trend stable at JPY 33,800-34,000/mt ($303-305/mt) for H2 scrap and JPY 38,900-39,200/mt ($349-352/mt) for shindachi scrap, all prices delivered to customer. Due to currency fluctuations, H2 scrap decreased $3/mt while shindachi scrap also decreased $3/mt.
A source noted that Tokyo Steel has begun to decrease scrap purchase prices at its Utsunomiya plant for the second time in the past week. Further downward adjustments by Tokyo Steel could put downward pressure on domestic H2 scrap prices.
USD = JPY 110.48 (Mar 27)
USD = JPY 111.39 (Apr 2)