SK's Hyundai Steel cuts bids for Japanese scrap by $9-11

South Korea's Hyundai Steel's latest bids for Japan-origin scrap tabled on September 22 were Yen 1,300-1,500/tonne ($9.1-10.5/t) lower from its previous bids on August 30. Some market sources said the lower bids might have reflected the expected softening in Japanese scrap prices.

Hyundai's latest bid for H2 grade scrap was at Yen 48,500/t FOB, down Yen 1,300/t from its previous bid on August 30, and HS at Yen 54,000/t FOB, Yen 1,500/t lower. The company also bid for H1&H2 at Yen 49,000/t FOB and H1 at Yen 49,500/t FOB. A Tokyo-based scrap