SOUTH KOREA SCRAP: Mills take advantage of cheap Japanese supply

Prices for import scrap cargoes to South Korea continued to decline in the week to Friday April 3, with mills favoring non-deep sea cargoes in their latest bookings, sources told Fastmarkets.

Korean mills are prioritizing buying Japanese scrap rather than deep-sea cargoes from the United States, as they do not want to take on larger volumes of material at a time of low steel demand, one Japan exporter source told Fastmarkets.
One Korea mill source said he had not received US West Coast scrap offers for the second week running as he continues to focus on material from other origins.

A deal for Japan-origin H2 scrap was heard at ¥22,000 ($203) per tonne cfr, while bids for similar material had fallen to ¥21,500 per tonne cfr on Friday. A Korean buyer also booked...


Lee Allen

April 03, 2020

10:22 GMT