On June 27, SteelOrbis reported domestic scrap prices encountering a slight correction downward in both JPY and dollar terms. SteelOrbis reported prices at the time for mini-mills in Tokyo, Osaka, and Nagoya at JPY 34,200-34,400/mt ($310-312/mt) for H2 scrap and at JPY 38,600-38,900/mt ($350-353/mt) for shindachi scrap, all prices delivered.
Market sources inform SteelOrbis that prices for week-ended June 29 remain stable at JPY 34,200-34,400/mt ($309-311/mt) for H2 scrap and at JPY 38,600-38,900/mt ($348-351/mt) for shindachi scrap, all prices delivered, due to both stable export bids and consistent firm domestic demand. Sources inform SteelOrbis that South Korean Hyundai Steel has maintained import bids for Japanese h2 scrap at JPY 33,000/mt ($298/mt) FOB, down $2/mt in dollar terms compared to the June 22 report. Due to currency fluctuations, H2 scrap decreased $1/mt and shindachi scrap decreased $2/mt.
USD = JPY 110.25 (Jun 27)
USD = JPY 110.78 (Jun 29)