On Feb 28, SteelOrbis reported domestic Japanese H2 scrap prices for mini-mills in Tokyo, Osaka, and Nagoya regions at JPY 35,000-35,600/mt ($328-334/mt) delivered to customer. Due to currency fluctuations, prices had decreased $1-2/mt from mid-February levels.
Sources inform SteelOrbis that prices for H2 scrap in the regions mentioned above have now moved up and are reportedly at 35,300-35,900/mt ($333-338/mt) delivered to customer. Prices have increased $5/mt from the bottom of the previous range and $4/mt from the top of the same range.
The equivalent of prime busheling scrap (New Cuttings or Shindachi scrap) is presently reported at JPY 38,500-38,900/mt ($363-367/mt) delivered to customer, an increase of $6-7/mt over the past week.
USD = JPY 106.66 (Feb 28)
USD = JPY 106.07 (Mar 7)