The Far Eastern steel scrap market is seeing low buying and steady prices. South Korean plants are holding back on bookings of Japanese scrap, while scrap collectors are not willing to make price cuts. At present, HMS 2 is still available to South Korean steel mills at JPY 36,000/t ($377/t; $1 = JPY 95.42) FOB, but the dollar prices have slipped on currency fluctuations. The largest steelmakers have already filled their stocks and can delay purchases, Metal Expert hears.
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