Posted on 16 Apr 2021
Japanese scrap prices remain strong in South Korea, Kallanish notes, after prices rose in the Japanese domestic market.
In Hyundai Steel’s latest Japanese scrap procurement auction on 15 April, the South Korean steelmaker posted a bid for Japanese H2 grade scrap at JPY 43,000/tonne ($395/t) fob. Hyundai also bid for shredded grade at JPY 47,000/t, for HS grade at JPY 48,000/t and Shindachi Bara grade at JPY 49,000/t in the same auction.
Hyundai’s H2 bid price is the same as another South Korean mill’s purchase price for 10,000 tonnes of Japanese scrap at JPY 43,000/t fob on 12 April. Hyundai's purchase tonnage in the auction is expected to be disclosed on 16 April. The latest tender marks Hyundai’s re-entry into the Japanese scrap market since its last procurement auction on 25 March when it bid for H2 grade scrap at JPY 40,000/t.
In the Japanese domestic market, Tokyo Steel has raised its procurement price by JPY 1,000/t for the second time this week. It is paying JPY 42,000/t for H2 grade scrap trucked to its Utsunomiya steelworks effective 15 April. Its H2 price was JPY 41,000/t during 13-14 April and JPY 40,000/t during 26 March-12 April.
Source:Kallanish
