South Korea: Domestic scrap purchases decline y-o-y in Jan’22

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in Melting Scrap

Major electric arc furnance steelmakers’ domestic scrap purchases in Jan’22 stood at 1.43 mnt, down 13% from Jan’21, as per SteelDaily reports.
Due to the hike in domestic scrap procurement prices, the country increased its imports significantly amid low inventory at steel mills.
Local scrap purchases sat at around 18 mnt in CY’21, up 16% on the year. Notably, purchases surpassed the previous record of 17.11 mnt in CY’17.

South Korea domestic scrap

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