WEEKLY: Japan's H2 scrap prices rise ahead of holidays

Over September 12-16, Japanese prices of H2 grade scrap for domestic sales had risen for the fifth week, as mini-mills were aggressively collecting scrap to prepare for their operations during two public holidays (over September 17-19 and September 23-25). However, Japanese scrap prices have become too high and thus less attractive for overseas buyers, market sources shared.

On September 16, mini-mills in the Kanto region around Tokyo paid Yen 51,000-52,000/tonne ($356-363/t) to collect H2 grade scrap, up Yen 3,000/t on week. The price had been above Yen 50,000/t for the first time since late June, making the total increment since mid-August to reach Yen 11,500-12,500/t, sources