South Korea: Major steel mills to revise scrap procurement prices

South Korea’s major steelmakers will adjust scrap procurement prices. Korea Special Steel, Daehan Steel, YK Steel, and Korea Iron and Steel will reduce prices by KRW 10/kg ($7/t) across all grades from 11 Sep’25. Dongkuk Steel will also cut prices by KRW 10/kg at its Incheon plant from 16 Sep’25. Hyundai Steel’s KRW 10/kg ($7/t) hike at Incheon, Dangjin, and Pohang will end on 17 Sep’25.