South Korea: Hyundai Steel decreases bid for Japanese scrap after a 3-week gap

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Hyundai Steel has decreased Japanese scrap bid sharply by JPY 1,300/t ($9/t) for H2 and by JPY 1,500/t ($10/t) for HS-grade against the last bid presented on 30 Aug’22.
Bid for H2 scrap stands at JPY 48,500/t ($335/t) while that for HS is at JPY 54,000/t ($373/t) FOB.
The steel major has cut bids to influence domestic prices which have greatly increased.

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