On July 15, SteelOrbis reported that South Korea’s Hyundai Steel had kept its scrap bid price for Japanese H2 scrap stable at JPY 27,000/mt ($250/mt) FOB Japan week-on-week for the week-ended July 12. Sources inform SteelOrbis that on July 19 Hyundai Steel maintained its scrap bid price stable again at JPY 27,000 ($251/mt) FOB Japan, up $1/mt compared to the previous week due to currency improvements.
A source noted that Japanese H2 domestic scrap prices continue stable at the last reported levels at H2 scrap at JPY 25,500-25,800/mt ($236-239/mt) and shindachi scrap at JPY 28,300-28,800/mt ($262-267/mt), all prices delivered to customer. Due to currency fluctuations, there was an improvement of $1/mt on the top range of shindachi scrap grade, otherwise, scrap prices have been stable since July 17.
USD = JPY 107.91 (Jul 15)
USD = JPY 107.73 (Jul 19)
USD = JPY 107.90 (Jul 22)