Sources inform SteelOrbis that South Korea’s Hyundai Steel has decreased its bid amount for Japanese H2 scrap from approximately JPY 29,000/mt ($268/mt) FOB Japan on June 13 to JPY 28,000/mt ($261/mt) FOB Japan, down $7/mt. The mill has reportedly booked scrap from the US and Russia in the past few weeks which may allow for the bids to be accepted in the Japanese market.
USD = JPY 108.38 (Jun 13)
USD = JPY 107.32 (Jun 20)