South Korean mill raises bid for Japanese scrap

South Korea-based Daehan Steel mill has raised its bids for Japanese scrap purchase by JPY 2,000/t ($19) as compared to last week’s bid made by Hyundai Steel, SteelMint learned from its credible sources. The bid for H2 is now set at JPY 42,500/t ($400) FoB level. Hike in global scrap prices and demand-supply mismatch in Japanese scrap market has pushed prices up.