On August 1, SteelOrbis reported Japanese H2 domestic scrap prices at JPY 25,700-26,000/mt ($239-242/mt) and shindachi scrap at JPY 28,500-29,000/mt ($265-270/mt), all prices delivered to customer.
Sources inform SteelOrbis that H2 scrap prices continue to trend stable domestically at JPY 25,700-26,000/mt ($242-245/mt) and shindachi scrap at JPY 28,500-29,000/mt ($269-273/mt), all prices delivered to customer. Due to currency fluctuations, H2 grade increased $3/mt from both the bottom and top of the previous range. Shindachi scrap prices increased $4/mt from the bottom of the previous range and $3/mt from the top of the same range.
The stronger JPY against the dollar is expected to support US export scrap prices in the region as both sources compete in Asia.
USD = JPY 107.49 (Aug 1)
USD = JPY 106.11 (Aug 7)