Steelmakers in South Korea entered the market to pick up two deep-sea cargoes from the United States at higher prices over the past week, sources told Fastmarkets on Friday June 11.
South Korean scrap buying prices were buoyed by hot finished steel demand in the country and a rise in Japanese export prices following Wednesday's Kanto Tetsugen auction.A South Korean steelmaker booked a 30,000-tonne mixed cargo of US scrap at $510 per tonne cfr South Korea for heavy melting scrap 1 in the past week, Fastmarkets understands, while a second South Korean steelmaker was heard to have booked a 32,000-tonne cargo of US steel scrap at $515 per tonne cfr for HMS 1....