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

South Korea’s major steelmakers will reduce steel scrap purchase prices by KRW 10/kg ($7/t) starting this week:

• Korea Special Steel and Korea Iron and Steel will lower prices from 4 April.
• Hwanyang Steel will cut prices from 3 April.
• Dongkuk Steel will reduce prices at its Incheon plant from 3 April and at Pohang plant from 4 April.