On September 8, SteelOrbis reported several HMS I bulk deals to South Korean mills traded at $351/mt CFR South Korea. At the time, origin was unknown, but US origin has now been confirmed.
According to sources, current ex-US East coast bulk scrap HMS I offers to South Korea are at $358-360/mt CFR and $355/mt CFR from the West coast. Bulk offers of HMS I/II 80:20 on the West coast are presently at $345-350/mt CFR South Korea.
Offer ranges remain relatively stable on market uncertainty. According to one source, the US scrap export market is receiving support from a rising Japanese H2 scrap export market, an alternative source to US scrap, while a separate source expressed concern over the slight softness in the recent ex-US scrap deal with Turkey.