WEEKLY: Japan's H2 scrap prices fall $3.5-7/t from peak

Japanese prices of H2 grade scrap for domestic sales declined Yen 500-1,000/tonne ($3.5-7/t) over September 19-23, after the prices had risen for five consecutive weeks over lower export bids and mills' completion of piling scrap stocks for their operations during the holiday weekend over September 23-25, market sources shared.

On September 23, mini-mills in the Kanto region around Tokyo paid around Yen 50,000-51,000/t to collect H2 grade scrap, down Yen 500-1,000/t on week and marking the first drop after the price increment of Yen 11,500-12,500/t since mid-August, sources confirmed. A Tokyo-based scrap trader shared that mini-mills had started cutting