A new deal for Russian A3 scrap has been registered in the South Korean import market recently, with a $4.5/mt increase compared to the previous booking reported on July 23.
About 10,000 mt of Russian A3 scrap have been traded at $258.5/mt CFR South Korea, while the previous contract for scrap of the same origin was at $254/mt CFR. The price increase was generally expected among market participants, taking into account the bullish sentiment in the Japanese export market and the overall uptrend in the Asian region.
Offers for H1 scrap from the US are at $285/mt CFR South Korea, not acceptable to buyers so far.
Japanese suppliers are asking for JPY 25,500/mt FOB for H2. As SteelOrbis reported earlier, the previous deal from Japan to South Korea was at JPY 25,000/mt FOB last week.
