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

South Korea’s leading steel producers will raise steel scrap purchase prices by KRW 10,000/t ($7/t) across all grades. Korea Iron and Steel will increase prices during 7-17 May’25. Daehan Steel and YK Steel will also temporarily raise purchase prices by KRW 10,000/t during the same period, conducting contract purchases. Additionally, Korea Special Steel will raise all grades’ prices by KRW 10,000/t from 7 May.