South Korea: Hyundai Steel hikes Japanese scrap buy price by up to JPY 3,500/t ($29/t)

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South Korea’s Hyundai Steel hiked bids for Japanese scrap today by upto JPY 3,500/t ($29/t) against the last bid on 17 Mar’22. Bids for H2 grade have risen by JPY 1,500/t and high-grade scrap by JPY 3,500/t.
Bids for H2 grade are now at JPY 65,000/t ($536/t), while for HS grade bids are at JPY 70,500/t ($582/t) FOB.
Japanese currency depreciation resulted in a price hike. Furthermore, demand from South East Asia has revived.

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