Japan: Scrap export offers rangebound after touching 3-month high
Japanese scrap export offers have fallen over the week because market participants are only floating modest buying enquiries. SteelMint’s assessment for Japanes...
The Japanese currency has appreciated, trading at 131.8 in the currency exchange market.
Bid prices fall after 3 weeks: South Korean steel major, Hyundai Steel, decreased import prices by JPY 1,000/t($8/t) w-o-w, reducing prices after three weeks. The company's bids for Japanese H2 scrap stand at JPY 49,000/t ($369/t), while for HS it is JP 53,000/t ($399/t) FOB on 27 Dec'22.
Bangladesh extends silence: The imported scrap market remained largely inactive due to the liquidity crunch and LC opening restrictions. However, buyers were heard to have booked some quantities in containers from Brazil. Indicative offers for Japanese H2 were heard at $425-430/t.
Tokyo Steel bid prices unchanged w-o-w: Tokyo Steel last increased its scrap bidding prices on 14 Dec, current bid prices for Tokyo Steel for its Tahara & Utsunomiya plant stayed at JPY 49,000/t ($356/t), the company increased its prices on 14 December, and since then no revision has been reported.
