South Korean steel mill – Dongkuk Steel has signed a contract for Japanese H2 scrap bulk cargo last week. The price for H2 scrap was reported at JPY 29,000/t ($277) CFR basis (equivalent to JPY 27,000/t FoB Japan) It is about JPY 1,000 lower than Hyundai Steel’s bid placed last week. Thus, it seems, prices may soften after holidays end in Japan
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