It is reported that Chinese and South Korean scrap buyers had stopped purchasing recently as their local construction markets are sluggish. However, it is reported that South Korean buyers is going to purchase the Japanese scrap for restock.
Hyundai Steel will purchase the Japanese scrap around 40,000 tons with the prices of H2 scrap around USD 310 per tonne FOB and Shindachi about USD 398 per tonne. On the other hand, Chinese buyers appear ready for purchasing to face the coming strong demand for construction steel in Q4.
(Sourced from YIEH.Corp)