One of the leading South Korean mills managed to buy 15,000 mt of Japanese H2 scrap at JPY 22,500/mt ($209/mt) FOB late last week, which is in line with expectations. Japanese suppliers decided to give discounts on offers at JPY 23,000-23,500/mt ($214-219/mt) FOB, trying to accelerate sales after a long pause in sales to this destination.
Moreover, weak local scrap prices in Japan due to lower demand weighed on exporters. After visible discounts last week, ex-Japan scrap was sold to Taiwan and Vietnam, as SteelOrbis reported earlier.
