South Korea: Hyundai Steel lowers bids for Japanese scrap by $5/t

South Korean steel major Hyundai Steel has reduced bids for Japanese ferrous scrap by JPY 500/t ($5) against the last bid placed on 5 Aug’21, sources confirmed.

• Bids for H2 scrap are now at JPY 45,000/t ($410) FoB.
• The difference between high-grade scrap and H2 continues to remain high at JPY 18,500/t unlike JPY 9,000/t assessed in Jun’21