South Korea: Hyundai Steel books 10,000 t Russian scrap at $254/t

South Korea’s major steelmaker Hyundai Steel concluded a deal recently for Russian scrap, booking 10,000 t of A3 grade scrap at $ 254/t CFR basis, down by $16 against last Russian deal. Other Korean steelmakers have also been inquiring for Russian scrap and have cut bids, at a time when Japanese scrap bookings are very slow, due to price disagreement.