South Korea: Hyundai Steel raises bid for Japanese scrap by JPY 7,000 ($64)

South Korean mill – Hyundai Steel has increased its bid price for Japanese scrap by up to JPY 7,000/t, credible sources have confirmed to SteelMint. Currently, the bid for H2 is at JPY 50,000/t ($456) FoB level, up by JPY 7,000/t ($64) against the last bid which was on mid-Apr’21. The steel maker has raised the bids for scrap purchase following hike in Kanto tender bids which rose by around $50/t m-o-m.