Bids for special grade H2 scrap remain at JPY 33,000/MT (USD 293) while bids for medium grade scrap like HS and Shredded stand stable at JPY 38,000/MT (USD 338) levels and prices assessed for high-grade scrap Shindachi Daichibara (SB) at JPY 41,000/MT (USD 364), FoB Japan.

The steel maker did not revise the prices owing to good number of contracts in hand and sufficient inventories.

The price gap between Hyundai Steel bid prices for H2 scrap and purchase price of domestic H2 at Utsunomiya works of Tokyo Steel in Japan still remains at JPY 2500/MT(USD 22).

Last week, the steel maker had raised bids for high grade Japanese scrap by Yen 1000/MT, while it kept bids unchanged for H2 grade.

Hyundai Steel is the largest buyer of Japanese scrap and imports monthly around 200,000-250,000 MT. Its import bidding is considered as the major indicator of the market direction in South East Asia.

- Input from SteelDaily

 

http://www.miningnewspro.com/en/News/212714/South Korea: Hyundai Steel Keeps Bid Prices Unchanged for Japanese Scrap