South Korea: Hyundai Steel’s bid for Japanese scrap rises by up to $54/t

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Hyundai Steel’s bid for Japanese scrap increased sharply by JPY 7,300/t ($53) for H2 and by JPY 7,500/t ($54) for higher-grade scrap as against the last bid presented on 18 Aug’22.
Bid for H2 scrap stands at JPY 49,800/t ($360) while that for HS is at JPY 55,500/t ($401) FOB.
The traditional peak season of steel market, limited scrap stock with mills and recovery in Japanese scrap export prices resulted in the hike in bids.

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