South Korea: Daehan Steel, YK Steel to cut scrap procurement prices by $7/t

South Korean major steel mills such as Daehan Steel and YK Steel have planned to reduce scrap prices by KRW 10,000 ($7/t) with effect from 2 Jul’24. Prior to this, Korean Steel and Korea Special Steel alongwith Hyundai Steel have reduced scrap purchase prices by KRW 10,000 ($7/t), effective from 27 Jun’24 and 1 Jul’24, respectively.