After the recent increase in offers for Japanese H2 scrap, other suppliers have started to raise prices for South Korean importers. Demand has been not very high, but some increase has already been accepted, sources have said.
A deal for 20,000 mt of Russian A3 scrap has been signed at $250/mt CFR South Korea this week, which is $11/mt above the previous deal prices for this grade earlier in May.
Japanese H2 scrap has been offered at JPY 24,000/mt ($223/mt) FOB and above with some negotiations being held at this level. Though there has been no confirmation of deals so far, sources believe that the price will be accepted soon. The previous deal for Japanese H2 in South Korea was transacted at JPY 23,500/mt ($218/mt) FOB.
