S Korea domestic scrap prices break month-long uptrend

摘要

Singapore—The South Korean domestic ferrous scrap market corrected from a month-long price uptrend that began early February, as steelmakers reduced bids following weaker Japanese seaborne prices, source said. Bids for Light A scrap, similar to Japanese H2 material, delivered to southern mills were in a range of Won 410,000-420,000/mt ($365- $375/mt) in the week ended March 18, cooling from a range of Won 420,000-435,000/mt a week ago. The cuts came after steelmakers received stronger domestic deliveries of material starting a week ago, as local yards offloaded inventories before prices began their retreat, with a weakening seaborne market indicating as much.