South Korean mill – Hyundai Steel has lowered bids for Japanese scrap by JPY 1,000/t ($9.5) today. Bids for H2 scrap stands at JPY 27,000/t ($ 256) FoB as against its last bid of JPY 28,000/t FoB, SteelMint learned from sources. Following a decline in global scrap prices and bids from steel mills, Japanese scrap prices are likely to come down.
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