Global scrap prices continue to rally. Bulk Japanese H2 scrap offers for Vietnam and Bangladesh currently stand at $470/t and $485/t CFR basis respectively, sources have reported. SteelMint’s weekly assessment for Japanese H2 scrap export has increased by JPY 2,000/t ($19) w-o-w to JPY 44,000-45,000/t FoB Japan. Towards the closing of last week South Korea’s prominent buyer Hyundai Steel has raised its scrap purchase bid to JPY 42,000/t FoB for H2.
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