WEEKLY: Japan H2 scrap prices stay flat after rising another $3/t

Japanese prices of H2 grade scrap for domestic sales over October 17-21 rose by a further Yen 500/tonne ($3.4/t) on week after the decline of Yen 2,000/t since late September. But no major price movement was seen after the rise, market sources shared.

On October 21, mini-mills in the Kanto region around Tokyo paid Yen 49,500-50,500/t to collect H2 grade scrap, up Yen 500/t on week. "But some mills are still monitoring the movement and keeping their prices unchanged, so we don't think the prices will rise rapidly," a Tokyo-based scrap trader