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

South Korea’s leading steel producers will raise scrap purchase prices by KRW 10,000/t ($7/t) across grades. Hyundai Steel’s Pohang plant will carry out a special scrap purchase from 8-17 May, for which it has raised all grade’s procurement prices by KRW 10,000/t. SeAH Changwon Special Steel and Hwanyoung Steel will also raise purchase prices of most grades by KRW 10,000/t from 8 May.