WEEKLY: Japan H2 scrap prices flat, supply tightness continues

Japanese prices of H2 grade scrap for domestic sales over October 24-28 remained unchanged on week after rising by Yen 500/tonne ($3.4/t) in the previous week. Nevertheless, Japan's overall scrap supply has been kept tight, market sources shared.

On October 28, mini-mills in the Kanto region around Tokyo paid Yen 49,500-50,500/t to collect H2 grade material, unchanged on week. "Mini-mills had lifted scrap prices by Yen 500/t from October 19, but most were monitoring the movement," a Tokyo-based scrap trader said. He explained that scrap deliveries to mills