South Korea: Hyundai Steel cuts Japanese scrap bids by $7/t

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South Korean steel major, Hyundai Steel, has decreased import prices of Japanese scrap by JPY 1,000/t($7/t) on 22 Feb’23 after almost three weeks’ gap.
After revision, the company’s bids for H2 scrap stand at JPY 51,000/t ($378/t), and those for HS are at JPY 54,000/t ($400/t) FOB.
Following lower domestic scrap prices in South Korea and an adequate inventory, Hyundai’s bid decreased.

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