Hyundai Steel raises bids for ex-Japan scrap, still far below current offers

Thursday, 10 September 2020 14:12:06 (GMT+3)   |   Istanbul
       

Hyundai Steel, the main scrap importer in South Korea, has announced new bids for Japanese scrap at around JPY 1,000-1,500/mt ($9-14/mt) higher than the previous booking level. However, these bids are still far below current offers from Japan, which have increased sharply after the Kanto Tetsugen export tender.

Hyundai Steel has placed bids for H2 scrap at JPY 28,000/mt ($264/mt) FOB, while the previous contracts to South Korea were done at JPY 27,000-27,500/mt FOB. However, current offers for this grade from Japan are at JPY 30,500/mt FOB. So “it is unlikely that they [Hyundia] will buy much. Exporters will not sell,” a trader told SteelOrbis.

The producer has also announced bids for HS scrap at JPY 32,000/mt FOB, while the previous sale was at JPY 30,500/mt FOB. The new bids for shredded scrap are at JPY 30,500/mt FOB, while those for shindachi are at JPY 31,000/mt FOB.


Similar articles

Import scrap prices in Taiwan soften as China’s presence still felt

15 Nov | Scrap & Raw Materials

Local Italian scrap prices increase in some spot contracts

15 Nov | Scrap & Raw Materials

Armenia extends scrap export ban for another six months

15 Nov | Steel News

Carbon and stainless scrap prices in Taiwanese domestic market - week 46, 2024

14 Nov | Scrap & Raw Materials

Workable levels decline in Turkey’s deep sea scrap market

14 Nov | Scrap & Raw Materials

Import scrap prices in Bangladesh remain stable in occasional containerized deals

14 Nov | Scrap & Raw Materials

Taiwan’s scrap imports down 12.7 percent in January-October

14 Nov | Steel News

Pakistani scrap buyers still seeking discounts as mood in finished steel segment falters

13 Nov | Scrap & Raw Materials

Import scrap prices in India rise, but buyers refrain from deals amid weaker rupee

13 Nov | Scrap & Raw Materials

Local Chinese scrap prices fluctuate within limited range

13 Nov | Scrap & Raw Materials