South Korea: Ferrous scrap imports drop in early Mar’25; Hyundai Steel leads intake

• Special steel companies’ share falls below 50%
• Dongkuk Steel continues to shun imports

SteelDaily: The total volume of imported ferrous scrap at South Korea’s major ports fell to 54,554 tonnes (t) in early March compared to mid-February.

Most of the incoming cargo is expected to be unloaded early this week.

Company-wise scrap arrivals

Hyundai Steel – 21,554 t, with 15,554 t at Incheon and 6,000 t at Dangjin (the highest).

SeAH Besteel – 11,000 t at Gunsan Port.

Daehan Steel/Taewoong Steel – 3,000 t at Jinhae Port.

POSCO – 14,000 t at Gwangyang Port.

Dongkuk Steel confirmed that no scrap arrivals have been recorded since December 2024.

Around 5,000 t were reported at Masan Port, most of which are believed to be for Korean Special Steel. No separate arrivals were reported at Busan Port.

In early March, Hyundai Steel emerged as the leading importer, accounting for 39.5% of total steel scrap arrivals.

Special steel companies sourced 45.8% of the imports, and this marks the first time in about three months that their share fell below 50%.

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