South Korea: POSCO raises bids for Japanese scrap

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South Korean steel major, Pohang Iron and Steel Company (POSCO), has signed a contract for Japanese scrap, as per latest reports by Steel Daily.
The price hike in shredded is to the tune of JPY 500/t ($4.5) against bids placed on 30 Sep’21.
The company’s bid for shredded scrap is now at JPY 61,000/t ($549) and for HS grade material, bids are at JPY 64,000/t ($576) CFR.

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