Japanese ferrous scrap slumps after reaching peak in S. Korea

摘要

Japanese scrap export pricesappeared to have peaked after leading SouthKorean electric arc furnace mill Hyundai Steellowered its bid prices Friday, attracting a massivevolume of offers from Japanese suppliers,trading sources in Seoul and Tokyo said.In a surprise move, the South Korean minimilldecided to pull out and not purchase anyH2 scrap late Friday, trading sources in Seoulsaid. On Friday morning, Hyundai Steel hadlowered its bid for Japanese H2 scrap to Yen21,000/mt ($209) FOB Friday, down Yen 500/mtfrom its previous bid on August 19.