Last week, South Korean Hyundai Steel purchased 30,000 tons of scraps from Japan, including H2 scrap with ￥27,500/ton FOB, P&S scrap with ￥30,500/ton FOB and Shindachi scrap with ￥31,000/ton FOB, rising by ￥500/ton from the previous purchase.
The Japanese scrap suppliers forecasted that Hyundai Steel might not increase the scrap purchase volumes in the short term.
Meanwhile, industry sources said that some of the small-size steel mills in South Korea may purchase the Japanese H2 scrap with prices of ￥27,500/ton FOB