WEEKLY: Japan's H2 scrap prices stop falling after a 3-w dip

Japanese prices of H2 grade scrap for domestic sales over October 10-14 remained flat on week after declining by a total of Yen 2,000/tonne ($13.4/t) in three weeks. Market sources shared it was partly due to the higher winning bids in Japan's latest monthly scrap export tender, which had led mills to stop trimming their scrap buying prices.

On October 14, mini-mills in the Kanto region around Tokyo paid Yen 49,000-50,000/t to collect H2 grade scrap, unchanged on week. A procurement official said scrap arrivals during last week did match the consumption volume, but it might become slower because the price gap between mills and shippers has