South Korea: Hyundai Steel raises bids for Russian scrap

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South Korean steel major Hyundai steel has raised bids for Russian A3 scrap, as per a SteelDaily report.
Hyundai Steel’s A3 scrap bid from Russia was reported to be at KRW 652,000 ($545/t). Considering the fact that the previous purchase was made at $513/t CFR, the price has increased by $32/t.
South Korea’s scrap imports were at 4.46 mnt in CY’21, up 9% y-o-y, with Russia supplying 1 mnt.

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