On March 29, SteelOrbis reported domestic Japanese H2 scrap prices for mini-mills in Tokyo, Osaka, and Nagoya regions stable at JPY 36,300-36,550/mt ($341-343/mt) delivered to customer. Shindachi scrap was reportedly at JPY 39,500-39,850/mt ($371-374/mt) delivered to customer at the time.
Sources inform SteelOrbis that through the past week, Japan’s Tokyo Steel has cut scrap purchase prices. The action was followed by other mills and scrap purchase prices are now reportedly at JPY 35,300-35,700/mt ($331-335/mt) delivered to customer in the regions mentioned above. Prices declined $10/mt compared to the bottom of the previous range and $8/mt from the top of the same range.
A source noted that H2 prices at some Tokyo Steel sites may be slightly higher as traditionally prices at the large mill are slightly higher than the average at mini-mills.
Shindachi scrap is reportedly at JPY 38,600-39,000/mt ($362-366/mt) delivered to customer at the time. Prices declined $9/mt compared to the bottom of the previous range and $8/mt compared to the top of the same range.
USD = JPY 106.45 (Mar 29)
USD = JPY 106.55 (Apr 4)