South Korea: Hyundai Steel lowers bids for Japanese scrap by $4/t

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Hyundai Steel has cut bids for Japanese scrap sharply by JPY 500/t ($4/t) for H2 and HS grade scrap as against the last bids presented on 26 May.
Bids for H2 scrap are now at JPY 53,000/t ($395/t) while those for HS are at JPY 57,500/t ($429/t) FOB.
Japanese market participants expect limited scope for downside in near-term prices in view of bids presented in today’s Kanto tender.

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