South Korea: POSCO hikes bids for Japanese ferrous scrap

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POSCO has increased bids for Japanese ferrous scrap in the range of JPY 3,500-5,500/t ($31-48/t) compared to last bids placed on 17-Jan’22, as per SteelDaily.
Bids for shredded scrap are now at JPY 61,500/t CFR ($540/t) and for HS material are at JPY 63,500/t CFR ($557/t).
Hike in imported scrap offers and rise in bids by Hyundai have resulted in higher bids from POSCO.

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