- South Korea-based SeAH Besteel has lowered its bids for Japanese ferrous scrap, as per latest reports.
- The company’s contract price for shredded scrap now stands at JPY 61,000/t CFR ($535/t), while the contract price for H2 grade material is at JPY 50,500/t FOB ($443/t).
- Earlier, Korean steel major Hyundai Steel, too, had reduced bids for Japanese scrap by $26/t.
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