Japanese H2 export scrap receives support from stable South Korean mill bid

Monday, 15 July 2019 22:15:57 (GMT+3)   |   San Diego

Sources inform SteelOrbis that South Korea’s Hyundai Steel has kept its scrap bid price for Japanese H2 scrap stable week-on-week for the week-ended July 12. The bidding prices from the steel mill had decreased consistently from March to early July. The recent stable bid level of JPY 27,000/mt ($250/mt) FOB Japan heard into the present week is expected to provide Japanese domestic H2 scrap prices with support after a consistent decline for the past several months. On July 5, the bid level was JPY 27,000/mt ($249/mt) FOB Japan. Due to currency fluctuations, the price has increased by $1/mt.

USD = JPY 108.56 (Jul 5)

USD = JPY 107.91 (Jul 15)

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