There are signs that price negotiations face a stalemate on new deals for Japan's ferrous scrap exports to South Korea. As of May 30, Japan's export prices of No2 HMS for South Korea were Y32,500-32,800/MT FOB, no change from what they were as of May 1. Hyundai Steel Co made May 29 bids of Y32,500-32,800/MT for new purchases of No2 HMS from Japan when South Korea's other steelmakers made similar bids for the Japanese material intermittently. As a result, Japan's ferrous scrap export market for shipments to South Korea indicated few fluctuations throughout May.
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