Correlating with the minor downward correction in the Kanto Tetsugen scrap auction prices in September, the recent Kansai scrap auction declined prices from JPY 34,700/mt ($314/mt) FAS in August to about JPY 34,400/mt ($305/mt) FAS. While the correction was only JPY 300/mt, due to the devaluation against the dollar over the past month, prices decreased $9/mt.
USD = JPY 110.49 (Aug 21)
USD = JPY 112.92 (Sep 25)