Buyers in South Korea have been willing to pay higher prices for Japanese scrap recently, outbidding Chinese buyers, sources told Fastmarkets on Wednesday June 23.
The South Korean market has been highly interested in higher-quality scrap from Japan in recent months amid high special steel demand and rising scrapAfter accounting for the freight costs, Chinese buyers now need to pay at least $565 per tonne cfr China to reach parity with South Korea - much higher than the prices acceptable to Chinese buyers, a...