South Korea: Hyundai Steel to cut scrap buy prices by $14/t

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South Korean steel major, Hyundai Steel, has announced to cut scrap buying prices for the second time this month by KRW 20,000/t ($14/t), as per SteelDaily reports.
The company will cut scrap buy prices for its Pohang, Incheon, and Dangjin works effective from 9 Nov’22.
Total ferrous scrap import volume by South Korea stood at 0.33 mnt in Sept’22, 20% down y-o-y.

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