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

South Korea’s leading steel producers will reduce scrap purchase prices by KRW 10/t ($7/t) across all grades. Korea Iron and Steel, Korea Special Steel, Daehan Steel, and YK Steel will implement the price cut from 19 Apr’25. Meanwhile, SeAH Besteel will cut prices starting 17 Apr, for select grades, including lightweight A, B, L; guillotine A, B; and lightweight compression A, B.