Hyundai Steel Buys Japanese H2 and Shindachi Scraps

TOKYO (Scrap Monster):The South Korean steel major Hyundai Steel is reported to have purchased nearly 20,000 to 30,000 tons of Japanese scraps. The company has purchased H2 scrap and Shindachi scrap at ¥ 32,500/ton FOB and ¥ 37,000/ton FOB respectively.

According to sources, the Japanese scrap suppliers are keeping the offer prices for H2 scrap in the range ¥ 32,700/ton FOB to ¥ 32,800/ton FOB to South Korean mills. Also, most suppliers are seen unwilling to sell H2 scrap at prices lower than ¥ 33,000/ton FOB.

Meanwhile, the average price of Japanese H2 scrap dropped during the second week of May. The average price of Japan H2 scrap in Kanto, Central and Kansai region was ¥ 30,637/ton during the second week of May. The prices declined by ¥ 142/ton from the previous week.

The average price of H2 scrap in Kanto region was ¥ 31,167/ton. The average price in Kanto region remained unchanged from the previous week.

Also, the H2 scrap average prices declined in Kansai regions. The average price of H2 scrap in Kansai region during the second week of May was ¥ 32,120/ton, falling by ¥ 125/ton over the previous week.