Hyundai Steel- a South Korean steel mill has lowered its bids for Japanese scrap for the third successive week by JPY 2,000/t ($18) for all grades, sources have confirmed to SteelMint. The bid for H2 is now set at JPY 40,000/t ($366) FoB level, down against its last bid presented on 11th Mar’21. Japanese scrap prices have softened both in domestic and in exports. However, volatility in freight rates remains a concern.
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