SK's Hyundai cuts bids for Japanese scrap by $98-114/t

Source: Mysteel May 27, 2022 11:15

The latest bids for Japanese scrap placed by South Korea's Hyundai Steel on May 26 were lower by Yen 12,500-14,500/tonne ($98-114/t) from its previous bids on April 7, indicating the further decline in Japanese scrap prices, market sources shared.

On Thursday, Hyundai's bid for Japan-origin H2 grade scrap was at Yen 53,500/t FOB, those for H1&H2 scrap at Yen 54,000/t FOB, both down Yen 12,500/t from its previous bid. The bids for shredded material were at Yen 57,000/t FOB, down Yen 14,500/t, and HS scrap at Yen 58,000/t