- Vessel shortages limited Japan’s H2 scrap export activity
- Vietnam mills favored domestic scrap amid weak demand
Japan’s H2 scrap export prices edged lower week on week in yen terms as exporters reduced offers amid sluggish overseas demand.
BigMint assessed H2 scrap at JPY 43,000/t ($279/t) FOB Tokyo Bay, down JPY 500/t ($3/t) w-o-w.
A Japan-based trader reported that vessel availability has tightened since mid-September, following holiday disruptions in South Korea and China.
key buyers
In overseas markets, key buyers in Vietnam maintained a cautious stance. A Vietnam-based trader noted that mills’ buying ideas for H2 scrap remained below $325/mt CFR, but tight vessel supply made such sales unviable.
A mill side participant added that imported scrap demand stayed subdued, with mills preferring domestic material under a wait-and-see approach.
Another source highlighted that flooding in northern and central Vietnam, along with recovery efforts in the south, further weighed on consumption.
H2 offers fell to $325-335/t CFR Vietnam on 29 October , down $5/t from the previous week’s most competitive levels, while bids held firm at around $320/mt. Meanwhile, US-origin offers and bids were stable w-o-w at $350/t and $340/t CFR Vietnam, respectively.
Domestic scrap purchase prices
Tokyo Steel raised its scrap purchase prices for the seventh time this month, effective 1 Nov’25. Prices increased by JPY 500/t ($3/t) at all plants except Kansai. Post-adjustment, H2 prices stood at:
- Tahara, Okayama, Kyushu, Tokyo Bay, and Setallite Yard: JPY 43,500/t ($282/t)
- Nagoya: JPY 43,000/t ($279/t)
- Takamatsu: JPY 38,500/t ($250/t)
- Utsunomiya: JPY 42,500/t ($275/t)
Outlook
Japanese H2 scrap prices are likely to remain under pressure in the short term, as muted export demand and freight constraints offset limited domestic price support.
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