On March 5, SteelOrbis reported that South Korean mills increased their bids for Japanese H2 scrap and the bid range increased to JPY 35,900-36,500/mt ($339-345/mt) FOB Tokyo Bay.
Sources inform SteelOrbis that South Korean mills have increased scrap bid prices as they seek to pull away scrap from the Japanese domestic market for export. The new H2 price range is reportedly now at JPY 36,800-37,500/mt ($344-351/mt) FOB Tokyo Bay. The bids increased $5/mt from the bottom of the previous range and $6/mt from the top of the same range.
USD = JPY 105.88 (Mar 5)
USD = JPY 106.87 (Mar 15)