Hyundai Steel further hikes bids for Japanese scrap

Hyundai Steel has raised bids for Japanese scrap by JPY 1,000/t ($8/t) for H2 grade and JPY 1,500/t ($12/t) for Shindachi bara compared to 24 Mar'22.
Bids for H2 scrap are now at JPY 66,000/t ($540/t), while those for Shindachi bara are at JPY 73,500/t ($601/t) FOB.
Prices were adjusted due to depreciation of the Japanese Yen, although sources revealed that contract volumes are expected to be low.