Japanese scrap export prices remain unchanged in recent booking by Hyundai Steel

Hyundai Steel- South Korea's major steel manufacturer has booked Japanese bulk cargo today. The company has dragged the attention through its recent booking of a total of 50,000 t this week, as per reports.

"Hyundai Steel has booked 30,000 t Japanese scrap recently against the offered quantity of 100,000 t. The company booked H2 scrap at around JPY 27,000/t FoB", shared a trader.

Notably, the company has booked around 80,000 t of Japanese scrap over two weeks through new contracts. Japanese scrap export offers to South Korea have observed a sharp hike in last few weeks due to scrap tightness. Currently, H2 offers stand at JPY 28,000/t FoB level.

Other Japanese scrap bookings concluded this week-

• POSCO has concluded a deal for 10,000 t of Japanese HS, shindachi, and shredded at around JPY 32,000/t CFR ($302) Korea basis.
  
  
  
• Dongkuk Steel has signed a contract of around 60,000 t of Japanese scrap in last two weeks.
  
  
• Recently, Bangladesh mill has booked around 15,000 t of bulk Japanese H2 at around $305/t CFR basis.