Recently, South Korean Hyundai Steel purchased a batch of H2 scrap and Shindachi scrap from Japan with the prices of JPY 26,000 per tonne FOB and JPY 29,000 per tonne FOB, decreasing by JPY 1,000 per tonne respectively from the previous purchase.

It is analyzed that the price dip was caused by the fact that Tokyo Steel cut the scrap purchase prices by JPY 1,000 per tonne on June 7th 2012.

Source - www.yieh.com)

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