On November 6, SteelOrbis reported that domestic H2 scrap prices in Japan at mini-mills in Tokyo, Osaka, and Nagoya ticked down to JPY 35,100-35,400/mt ($310-313/mt) while shindachi scrap prices also dropped to JPY 40,200-40,500/mt ($355-358/mt), all prices delivered to customer.
According to sources close to the market, H2 scrap prices in Japan have ticked down to JPY 34,300-34,600/mt ($301-304/mt), while shindachi scrap prices also dropped to JPY 39,500-39,800/mt ($347-350/mt), all prices delivered to customer. H2 scrap prices declined by $9/mt while shindachi scrap has declined $8/mt. The downward scrap price trend is in tandem with the reduction in scrap purchase prices by Tokyo Steel in the past few weeks.
USD = JPY 113.16 (Nov 6)
USD = JPY 113.82 (Nov 12)