On February 23, SteelOrbis reported that South Korean mills were increasing their bids for Japanese scrap. Japanese H2 scrap was reported at JPY 34,800-35,700 ($326-335/mt) FOB Tokyo Bay.
Sources inform SteelOrbis that South Korean mills have increased their bids and the bid range is now reportedly at JPY 35,700-36,200/mt ($334-339/mt) FOB Tokyo Bay for Japanese H2 scrap. In dollar terms, the bottom of the range has increased by $8/mt while the top increased by $4/mt.
USD = JPY 106.87 (Mar 1)