South Korea: Hyundai Steel slashes bids for Japanese scrap by up to $31/t

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South Korean steel major Hyundai Steel has trimmed bids for Japanese ferrous scrap today by JPY 2,000-3,500/t ($18-31/t) for various grades compared to the last bid on 17 Nov’21.
Bids are now at JPY 47,500 ($420/t) FOB Japan for H2 grade, lower by JPY 2,000/t.
It would be interesting to see if Japanese suppliers allocate volumes considering such a steep decline in bids.

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