On October 25, SteelOrbis reported South Korean mills bidding for Japanese H2 scrap at JPY 30,500/mt ($268/mt) FOB Japan with public offers at approximately JPY 31,250/mt ($275/mt) FOB Japan. Sources inform SteelOrbis that mills were successful in attracting tonnage at the bid level despite the higher offer range.
According to sources, a large South Korean mill has recently purchased 10,000 mt of Japanese H2 scrap at JPY 30,500-30,750/mt ($267-270/mt) FOB Japan. In both the JPY and dollar terms, the traded price has remained stable-to-strong for the past two weeks.
$1=JPY 113.71, (Oct 25)
$1=JPY 114.06, (Nov 1)