SeAH Besteel lowers bids for few Japanese scrap, suppliers resist

—

South Korean major mill, SeAh Besteel signed a few contracts recently. The company’s contract price for shredded scrap now stands at JPY 57,000/t (497/t) CFR, down by JPY 1,000/t ($9/t) compared to last week, as per SteelDaily reports.
However, bids for Shindachi-bara scrap are at JPY 65,000/t ($567/t) CFR, increasing by JPY 1,000/t ($9/t) from the previous week.
With the short-term plunge, resistance from Japanese suppliers seems to be gradually increasing.

Comments