- South Korean steel major Hyundai Steel has announced a reduction in the scrap purchase price for its Incheon and Dangjin steelworks by KRW 10,000/t ($8.56), SteelMint learnt from Korean Steel Daily.
- This comes just a couple of days after the steelmaker lowered the scrap buy price for its Pohang unit by KRW 10,000-15,000 won/t ($8-13), with effect from 10 Sept’21.
- Hyundai Steel’s production capacity is 24 mn t/year out of which 12 mn t comes through the EAF route.
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