It is reported that South Korea’s import price of the Japanese H2 scrap may drop further to JPY 22,000 per tonne as the South Korean buyers are reluctant to purchase at this moment.

Hyundai Steel, the largest importer of the Japanese scrap in South Korea slows down its purchase, affecting the other steelmakers.

It's learned that Hyundai Steel purchased the Japanese H2 scrap with prices of JPY 23,500 per tonne FOB in the first week of October 2012. However, there were no transactions made in last week.

For this week, Hyundai Steel said that it will purchase a few amounts of Japanese scraps.

Affected by lower demand from South Korea, it's said that the Japanese scrap suppliers have turned to sell the materials to other countries such as China and Vietnam.

Source - www.yieh.com)

(www.steelguru.com)