On April 5, SteelOrbis reported domestic Japanese H2 scrap prices for mini-mills in Tokyo, Osaka, and Nagoya regions at JPY 34,800-35,100/mt ($324-327/mt) delivered to customer. Shindachi scrap (new cuttings) was reportedly at JPY 38,500-38,800/mt ($358-361/mt) delivered to customer at the time.
Sources inform SteelOrbis that domestic scrap prices have ticked down further over the weekend as South Korean mills decreased export bids and Tokyo Steel further cut domestic scrap purchase prices at three of its sites. This is reportedly the fourth downward price adjustment that Tokyo Steel has made since late March.
Japanese domestic H2 prices are now reportedly at JPY 34,200-34,600/mt ($319-323/mt) delivered to customer. Prices decreased $5/mt from the bottom of the previous range and $4/mt from the top of the same range.
Shindachi scrap is now reportedly at 38,000-38,400/mt.($355-359/mt) delivered to customer. Prices decreased $3/mt from the bottom of the previous range and $2/mt from the top of the same range.
USD = JPY 107.43 (Apr 5)
USD = JPY 107.08 (April 9)