South Korea: Major steel mills raise bids for Japanese scrap

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Major South Korean steel mills have hiked bids for premium Japanese scrap yesterday, as per a SteelDaily report.
POSCO’s bids for HS grade material were at JPY 66,000/t CFR ($569/t). While SeAH Besteel’s bids for shindachi bara scrap were at JPY 65,000/t ($560/t) CFR, bids for shredded scrap were at JPY 62,500/t ($539/t) CFR.
Rise in bids in Kanto tender due to active bids from Vietnam have pushed Japanese scrap prices higher.

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