JAPANESE FERROUS SCRAP EXPORT PRICES TO KOREA RISE FURTHER

Japanese ferrous scrap export prices to South Korea continued to increase amid rising demand and tight supply.

South Korea's leading EAF mill, Hyundai Steel lifted its bidding price in its purchase tender this week, sources in Japan said Thursday.

Hyundai Steel placed a bid price of Yen 20,800/mt ($185/mt) FOB for H2 grade scrap, Yen 22,800/mt FOB for HS grade and Yen 23,300/mt FOB for Shindachi grade scrap, sources in Tokyo and Seoul confirmed.

These apply to cargoes for shipment by May 15. This bid price of Yen 20,800/mt FOB is in line with expectations by Japanese and Korean trading sources, which told Platts Wednesday they expected the South Korean mill to bid H2 scrap at Yen 20,500-21,100/mt FOB.