South Korea: Imported Scrap Offers from Russia Up by USD 15-20
Russian scrap offers to South Korea increased significantly, according to recent release reports. Offers to South Korea up by USD 15-20/MT as against last week, however, no fresh bookings at these levels have been concluded as yet.
A3 grade scrap offers from Russia has moved up to USD 300-305/MT, following the global trend amid the latest high price deals concluded in the USA & Turkey.
Offers for HMS 1& 2 (80:20) from the USA has also increased up to USD 320/MT, CFR level. Whereas, Russian suppliers continued demanding for more than USD 300/MT, CFR level. Meanwhile, few South Korean steelmakers are bidding in the range of USD 285-290/MT, up by USD 5/MT against last week, CFR level for Russian scrap.
Although Russia’s scrap exports have traditionally been focused towards South Korean buyers, Russian suppliers are also looking towards South East Asian markets since this year.
~ Inputs from Steel Daily
source: SteelMint
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