Hyundai Steel lowers bids for Japanese scrap by JPY 500/t ($4/t)

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South Korea’s Hyundai Steel lowered bids for Japanese scrap today by JPY 500/t ($4/t) compared to the last bid on 25 Feb’22, sources informed SteelMint.
Bids for H2 grade are now at JPY 56,500/t ($488/t), while bids for HS grade are at JPY 62,000/t ($536/t) FOB.
Increasing offers from suppliers and lower demand resulted in lowering of bids.

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