Japan raises Scrap export prices to South Korea by ¥400-500 a ton

JAPAN June 17 2014 4:18 PM 

TOKYO (Scrap Register): Japan has raised its scrap exports prices to South Korea by around ¥400 to 500 a ton.

The South Korean steelmaker Hyundai Steel has purchased H2 scraps from Japanese companies at the rate of ?33,200 to 33,300 a ton FOB.

Japanese companies have raised its scrap export price to South Korea mainly due to the cheaper export prices compared with offerings from the US.

Hyundai Steel bought 45,000 tons of H1 scarp from American Sims Metal Management Limited by spending around $377 a ton C&F.