As a result of the strong January Tetsugen auction results, Japanese H2 scrap bids have increased. Sources report that South Korean Hyundai Steel has increased its bid for import H2 scrap from Japan. Bids have reportedly increased to JPY 37,500/mt ($339/mt) FOB Tokyo Bay. Some scrap deals are anticipated at this price. Bids in late December were reportedly at JPY 36,000/mt ($318/mt) FOB Tokyo Bay.
USD = JPY 113.28 (Dec 23)
USD = JPY 110.49 (Jan 15)