South Korean leading EAF steelmaker – Hyundai Steel has resumed bidding for Japanese scrap this week after a couple of weeks. Company’s bid have remain unchanged in last couple of weeks.
In bids presented today for Japanese scrap, the company has placed bids at JPY 22,000/MT (USD 203), FoB Japan. The bid for other grades of scrap such as Shredded/HS and Shindachi Bara scrap stands at JPY 25,000/MT (USD 230) and JPY 25,500/MT FoB (USD 235) respectively.
Bids are hovering at almost 3 years low as prior to this, the bids had fallen to JPY 22000/MT back in the second week of November 2016.
As per reports, the company has lot of contracts left and domestic scrap volume is also good.
Leave a Reply