On January 29, SteelOrbis reported domestic H2 scrap prices in Japan at mini-mills in Tokyo, Osaka, and Nagoya at JPY 29,900-30,100/mt ($274-275/mt) and shindachi scrap at JPY 34,800-35,200/mt ($318-322/mt), all prices delivered to customer.
Sources inform SteelOrbis that H2 scrap prices continue stable at JPY 29,900-30,100/mt ($273-275/mt) while shindachi scrap ticked up to JPY 34,900-35,300/mt ($319-322/mt), all prices delivered to customer.
Due to currency fluctuations, H2 decreased $1/mt from the bottom of the previous range while shindachi scrap increased $1/mt from the bottom of the previous range. Both grades maintained the stability on the top of the previous range. A source noted that Japanese scrap may begin to increase on global factors and local demand.
USD = JPY 109.29 (Jan 29)
USD = JPY 109.55 (Feb 1)