JAPAN STEEL SCRAP: Lower bids from Korea drag down export prices

A drop in scrap bid prices from a major South Korean steelmaker led to a weakening in the Japan steel scrap export market in the week to Wednesday January 20, market participants told Fastmarkets.

The South Korean mill released bids on Wednesday at ¥39,500 ($381) per tonne fob for H2, ¥44,000 per tonne fob for plate and structural (P&S), ¥45,000 per tonne fob for Shindachi and ¥44,000 per tonne fob for shredded scrap. Deals were heard at these prices for P&S, Shindachi and shredded, but no deals were heard closed for H2, a South Korean trading source said.
The bids were down by ¥2,500 per tonne from the previous bids made by the steelmaker on January 14.

A deal for Japanese H2 was closed...


Lee Allen

January 21, 2021

10:52 GMT