On June 18, SteelOrbis reported domestic scrap prices encountering a slight correction downward with prices reportedly at JPY 34,500-34,700/mt ($312-314/mt) for H2 scrap and shindachi scrap prices at JPY 38,800-39,100/mt ($351-354/mt), all prices delivered to customer.
However, sources say a downward price correction by Tokyo Steel has influenced slight downward pressure by regional mills.
Sources inform SteelOrbis that prices are presently at JPY 34,400-34,600/mt ($313-315/mt) for H2 scrap and JPY 38,700-39,000/mt ($352-355/mt), all prices delivered. H2 and shindachi prices have adjusted downward by JPY 100/mt, but due to currency fluctuations, H2 and shindachi scrap prices actually increased $1/mt.
USD = JPY 110.55 (Jun 18)
USD = JPY 109.89 (Jun 21)