It is reported that South Korea's Korea Iron & Steel Co Ltd has purchased Japan’s H2 scrap with the prices at JPY 28,700 to JPY 28,800 per tonne (USD 355 to USD 356 per tonne) FOB.
Japan’s current quotes of H2 scrap to South Korea was at JPY 29,000 per tonne (USD 358 per tonne) and the base price was at JPY 29,500 per tonne (USD 365 per tonne).
Currently, some dealers have even stopped offering quotes due to the positive outlook and low stock level.
Consequently, Japan’s current few quotes have forced South Korea’s steel mill to purchase scrap with higher prices.
(Sourced from YIEH.com)