Hyundai Steel, South Korea's leading electric arc furnace mill, has maintained its bid price for Japanese H2 grade ferrous scrap, trading sources in Seoul and Tokyo said Friday.
Hyundai Steel on Friday submitted a bid for Japanese H2 at Yen 24,000/mt FOB, unchanged from its latest bid on May 26, trading sources said.
The South Korean mill booked about 10,000 mt at its previous bid, as reported.
A Tokyo-based trader said the unchanged bid price by Hyundai was expected as the market condition hadn't changed from the previous week.
Another South Korean EAF mill, Dongkuk Steel Mill, also collected offers but had not submitted its bid price as of Friday, a source close to the company said.
Meanwhile, Hyundai Steel was also widely heard Friday to have booked Russian A3 grade scrap at $263/mt CFR South Korea, unchanged from Dongkuk's booking price during the late week of May 22.
No further details regarding the exact booking volume were confirmed.
