South Korea: Major steel mills to increase domestic scrap prices by $15/t

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South Korea’s major steelmakers are likely to increase domestic scrap procurement prices by KRW 20,000/t ($15/t) effective 31 Aug’22, as per a Steel Daily report.
Hyundai Steel will lift prices for its Incheon and Dangjin plants, POSCO for its Pohang and Gwangyang plants, and Dongkuk Steel for its Incheon and Pohang plants.
Similarly, SeAH Besteel is considering a price hike for all scrap grades.

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