S KOREA STEEL SCRAP: Mills slowly book Japanese scrap at lower prices

Prices for steel scrap cargoes imported into South Korea fell again over the last seven days amid weakening Japanese offer prices and stifled demand, sources told Fastmarkets on Friday September 25.

Japanese exporters reduced offer prices over the last week due to a lack of buying interest from Vietnam and Taiwan at the previous levels, sources said, while smaller suppliers focusing on Korea had already slashed their offer prices last week.
Fastmarkets’ weekly price assessment for steel scrap H2, Japan origin, import, cfr main port South Korea was ¥28,700-29,000 ($274-277) per tonne on September 25, down from ¥29,200-29,500 per tonne last week.

A deal for H1:H2 was heard closed at ¥29,200-29,500 per tonne cfr to a South Korean mill this week, down from a similar deal closed last week at ¥29,700 per tonne cfr for the same...


Lee Allen

September 25, 2020

12:05 GMT