It's predicted that Japan's H2 scrap export prices to Korea would rise to ￥30,000/ton FOB, affected by depreciated Japanese Yen and increased scrap prices in Korean domestic market.
On January 4th, the US dollar against the Japanese Yen was at 1:87, making the Japanese H2 scrap export prices rise by around ￥2,000/ton.
At the same time, the scrap prices increased in the Korean domestic market as well. SeAH Besteel hiked its scrap purchasing prices by KRW15,000/ton on January 4th and Dongbu Steel increased its scrap prices by KRW10,000~KRW15,000/ton.
Affected by these factors, it's expected the Japan's H2 scrap export prices to Korea would rise to reach ￥30,000/ton FOB.