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Japan's scrap steel export market prices remained broadly stable.

Category: Blog

Time:2026-02-26

As of the week ending February 25, Japan’s scrap steel export market remained sluggish, influenced by the slow recovery of the post-holiday period following Japanese holidays and festivals in several Asian countries; however, prices generally remained stable. The key export price assessments for this week are as follows: The FOB price for H2-grade scrap steel at major ports rose to between 45,500 and 46,000 yen per ton; the FOB price for shredded scrap steel remained steady at between 48,000 and 49,000 yen per ton; the FOB price for HS-grade scrap steel stayed stable at between 50,000 and 51,000 yen per ton; and the FOB price for newly broken scrap steel also remained unchanged at between 50,000 and 51,000 yen per ton.

　　As of the week ending February 25, affected by the slow recovery of the market following Japanese holidays and festivals in several Asian countries, Japan's scrap steel export market saw subdued trading activity, though prices remained broadly stable. The key export price assessments for this week are as follows: The FOB price for H2-grade scrap steel at major ports rose slightly to between 45,500 and 46,000 yen per ton; the FOB price for shredded scrap steel remained steady at between 48,000 and 49,000 yen per ton; the FOB price for HS-grade scrap steel stayed stable at between 50,000 and 51,000 yen per ton; and the FOB price for newly broken scrap steel also remained unchanged at between 50,000 and 51,000 yen per ton.
　　This week, overall trading hours have been shortened due to the closure of Japanese markets on Monday. Vietnamese buyers have just resumed business activities after the long Lunar New Year holiday, and inquiry volumes for procurement remain relatively subdued. In Bangladesh, buyers are focusing more on deep-sea resources; last week, there were reports of transactions involving U.S.-sourced supplies, indicating that selectively emerging demand is beginning to take shape in the region. Across the Asian market as a whole, with trading resuming after the holidays, transactions in products such as billets have also remained rather sluggish.
　　Despite moderate export activity, the domestic scrap steel market in Japan is sending out a stronger signal. This month, Tokyo Steel—the leading electric arc furnace steelmaker—has raised its scrap steel purchase prices for the second time, increasing the purchase price by 1,000 yen per ton at all of its plants starting February 21. Previously, its Okayama and Kyushu plants had already raised prices by 500 yen per ton on February 19, highlighting the robust demand from steelmakers amid tight supply conditions. As a result of this development, steelmakers in the Kanto region have also followed suit, raising their purchase prices by 500 to 1,000 yen per ton.
　　Market participants are also paying close attention to recent exchange-rate movements: the yen has weakened against the U.S. dollar, with the exchange rate moving from 153.13 to 1 US dollar per 154.71 yen on the 17th. Some analysts believe that the weaker yen could enhance the competitiveness of Japan’s scrap steel exports; however, others point out that tight supply conditions may prompt sellers to raise their yen-denominated quotes. Overall, supported by adjustments in domestic prices and the weak yen, buyers in the export market have generally raised their offers this week by about 500 yen per ton.

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Japan's scrap steel export market prices remained broadly stable.

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