S KOREA STEEL SCRAP: Mills return to market for Japanese cargoes at higher prices

Prices for steel scrap imported to South Korea moved upward over the past week following a rise in demand from steelmakers, market sources told Fastmarkets on Friday August 21.

Most buyers had been out of the market over the past few weeks, largely due to holidays in Japan and high offer prices from the United States West Coast.
But the market gained ground in recent days following the increase in Japan's Kanto Tetsugen auction price and stronger demand from mills, which led to a rise in bid prices from South Korea.

One major steelmaker was heard to have purchased H2 scrap from Japan at ?27,000 ($255) per tonne fob, which sources...

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