South Korean steel producers entered the market to book cargoes from Japan and Russia over the past week due to uncompetitive offer prices from the United States West Coast, sources told Fastmarkets on Friday March 20.
One steelmaker purchased 90,000 tonnes of Russia-origin A3 heavy scrap at $247 per tonne cfr South Korea on Wednesday, while another producer in the country bought a Japan-origin cargo of H2 heavy scrap at ?24,000 ($219) per tonne cfr South Korea.Although some Japanese sellers still hope to achieve prices of ?24,500 per tonne cfr South Korea, the...