- 15,000 t of H2 reportedly sold to a Vietnamese mill
- Tokyo Steel rolls over scrap buy prices for first time in Dec’25
Japan’s December Kanto scrap export tender saw a modest rise of JPY 728/t ($5/t) m-o-m. A 15,000-t H2 cargo was awarded via a Japanese trader to a Vietnam-based mill at JPY 45,688/t ($292/t) FAS, equivalent to about $330-333/t CFR Vietnam and roughly $355/t CFR Chattogram.
The December Kanto tender marked its fifth consecutive monthly increase, although market participants pointed out that in dollar terms the rise was marginal at roughly $1/t, with the weaker yen (from 153.8/$ on 11 November to 156.6/$ on 10 December) largely inflating bid levels. The winning price surpassed October and November’s range and reached its highest in 14 months since August last year.
Shipment volume was reduced for the second month in a row to 15,000 t per vessel. A total of 14 trading companies submitted valid bids, with aggregate offers reaching 105,900 t, down 15,200 t m-o-m but still above the 100,000 t mark for the twelfth straight month. With fewer operating days in January, the per-ship cap was set at 15,000 t. The tender’s upward momentum was primarily driven by yen depreciation.
Tokyo Steel rolls over scrap purchase prices
Tokyo Steel kept its scrap purchase prices unchanged in its 9 Dec’25 revision, the first update since 20 November. H2 scrap levels now stand at:
- Tahara, Okayama, Kyushu, Tokyo Bay: JPY 44,500/t ($286/t)
- Nagoya, Kansai: JPY 44,000/t ($283/t)
- Utsunomiya: JPY 43,500/t ($280/t)
- Takamatsu: JPY 39,500/t ($254/t)
All plants retained their previous pricing.
Japan’s domestic, export scrap markets
Japan’s H2 export market stayed broadly range-bound. Deals last week were estimated at JPY 43,000/t FOB ($278/t) amid tight supply and a weaker JPY. BigMint assessed H2 at JPY 43,700/t ($283/t) FOB Tokyo Bay, down JPY 250/t ($2/t, 1%) w-o-w. Despite the softer domestic market, export offers continue to hover in the JPY 43,000-44,000/t ($274-281/t) range.
Current Kanto region domestic scrap prices were at JPY 43,500/t ($278/t), and it is anticipated that domestic prices may rise following the higher bids.
Market insiders report that H2 scrap offers in Vietnam are at $330-332/t CFR, with workable levels at $322-325/t and bids near $320/t. US-origin HMS 80:20 softened to $350-355/t CFR, while buyer indications remained around $342-345/t.
Demand stayed weak due to weather-related disruptions and a slow downstream steel market. A mill-side contact noted that although Typhoon Koto did not directly hit Vietnam, overall market conditions remain subdued.
Outlook
Japan’s short-term scrap outlook remains steady to slightly firm, backed by stronger Kanto bids, tight yard inventories, and a weaker yen keeping export offers near JPY 44,000/t FOB. The next Kanto tender on 9 January will guide early-2026 pricing sentiment. The association has scheduled 15,000 t for shipment, with a further 4,500 t still to be allocated.
Leave a Reply