South Korea: Major mills reduce scrap procurement prices by up to $7/t

Major South Korean mills trimmed scrap procurement prices by about $7/t.

• SeAH Besteel: Reduction of KRW 10,000/t ($7/t) for most grades, effective 13 Nov’24; only compressed pig iron cut by KRW 5,000/t ($3/t).
• Daehan Steel, YK Steel, POSCO Gwangyang, Pohang Offshore Yard, Korea Iron and Steel, SeAH Changwon: Reduction of KRW 10,000/t ($7/t) for most grades; only lightweight guillotines cut by KRW 5,000/t ($3/t).