SOUTH KOREA SCRAP: Prices rise after Australia deal, outlook turns bearish

摘要

Prices of bulk scrap cargoes sold to South Korea jumped over the last seven days to Friday May 15, but market participants also told Fastmarkets that such high prices are unlikely to persist in the coming weeks. South Korean scrap demand among electric arc furnace (EAF) mills has increased in the past few weeks after construction projects restarted following an easing of the country’s Covid-19 lockdown. The rise in demand was clearly illustrated on Tuesday May 12 when a South Korean mill jumped into the market for scrap at higher prices from Australia, Japan and Russia.