Demand for ferrous scrap from end users in Asia remained strong this week, with major steelmakers looking to purchase more of the raw material in the face of strengthening prices in the key market of Turkey.
In South Korea, a major mill is seeking Japanese H2 scrap, heavy melting scrap (HMS) 1&2 (50:50), shredded scrap as well as plate and structural (P&S) scrap this week.It submitted bids of ?28,500 ($260) per tonne fob Japan for H2 scrap, ?33,500 per tonne fob Japan for shredded scrap, ?33,500 per tonne fob Japan for P&S scrap and ?36,500 per tonne fob Japan for higher-grade Shindachi scrap.Major South Korean steelmakers had purchased HMS 1 at $302-308 per tonne cfr...