South Korea: Major mills reduce scrap procurement prices by up to $14/t

Major South Korean mills have lowered scrap procurement prices for all grades:

• POSCO’s Gwangyang and Pohang, Daehan Steel, and YK Steel’s Gupyeong and Noksan cut prices by KRW 10,000/t ($7/t), except KRW 20,000/t ($14/t) for lightweight and processed products.
• Hyundai Steel’s Pohang Plant cut prices by KRW 10,000/t ($7/t) effective 27 Nov, while Korea Iron and Steel by KRW 10,000/t ($7/t) from 26 Nov.