South Korea: Hyundai Steel resumes bids for Japanese scrap as prices drop

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Hyundai Steel has cut bids for Japanese scrap sharply by JPY 12,500/t ($98/t) for H2 grade and JPY 13,500/t ($106/t) for shredded scrap after more than a month’s gap.
Bids for H2 scrap are now at JPY 53,500/t ($420/t) while those for shredded are at JPY 57,000/t ($447/t) FOB.
Global market sentiments and the selling pressure on Japanese suppliers led to the significant price cut.

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