A drop in scrap bid prices from a major South Korean steelmaker led to a weakening in the Japan steel scrap export market in the week to Wednesday January 20, market participants told Fastmarkets.
The South Korean mill released bids on Wednesday at ?39,500 ($381) per tonne fob for H2, ?44,000 per tonne fob for plate and structural (P&S), ?45,000 per tonne fob for Shindachi and ?44,000 per tonne fob for shredded scrap. Deals were heard at these prices for P&S, Shindachi and shredded, but no deals were heard closed for H2, a South Korean trading source said.A deal for Japanese H2 was closed...