Hyundai Steel Offers FOB 71,500 yen/t for Japan New Cutting Ferrous Scrap
Hyundai Steel of South Korea increased the offer for Japanese ferrous scrap to more than FOB 70,000 yen per tonne. The offer is 71,500 yen for new cutting scrap, which is 3,500 yen higher than a month ago, according to Japanese trading firm. However, Hyundai Steel could have trouble to secure scrap when Japanese scrap shipping price from Tokyo bay already reaches around FAS 70,000 yen.
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