South Korea: Major mills raise scrap procurement prices by $16/t

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Major South Korean steel mills increased their scrap purchase prices by up to KRW 20,000/t ($16/t) from 22 Dec, as per SteelDaily reports.
Hyundai Steel (for Incheon and Dangjin plants), SeAh Besteel increased scrap buy prices by KRW 20,000($16/t). Korea Steel to purchase scrap under contract prices for KRW 20,000 ($16/t) from 22 Dec to 24 Dec’22.
As scrap demand grew in the domestic market, mills raised prices.

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