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Hyundai Steel plans to purchase Japanese scrap
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Reportedly, South Korean Hyundai Steel bid ￥26,500/ton FOB for the Japanese H2 scraps for August delivery recently.
At the same time, the firm also bid ￥28,500/ton FOB for the P&S scraps and ￥29,500/ton FOB for Shindachi scraps.
The Japanese traders said that Hyundai Steel’s bid prices for P&S scrap and Shindachi scrap were lower than the average prices in the Japanese Tokyo Bay region.
Therefore, the Japanese scrap suppliers would take wait-and-see attitude rather than making the transactions.
In the South Korean domestic market, the steel mills have kept reducing scrap purchase prices for the domestic market.
News Date
7/9/2012 9:36:02 AM
reported by
Nann Cheng
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