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HMS 1/2 (80:20) Scrap : Buy Offer - Expired Offer


We are looking for HMS 1/2 (80:20) SRI 200 - 206 from South and North America excluding Canada, Brazil, Canada, Chili and Puerto Rico and not from Asia, India, Africa. We need this HMS scrap of 2,000 MT per month +/1 5% X 12 month. Our preferred payment and port is CNF Pusan Port, Korea. Target price $260 per MT (but open to discussion)

The challenge is that the Buyer wants Seller to issue 2% PB before the Buyer issue the LC.
Buyer issue LOI with some probe
Buyer visits the Seller's yard and conclude contract
Contract is signed
Seller issues 2% PB upfront within 3 banking days after signing of the contract.
Buyer issues LC within 3 business days after reception of the PB from the Seller.

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