South Korea: Incheon and Dangjin see no scrap arrivals, import activity remains absent

• Major steelmakers have halted imports since Jan’26
• Hyundai Steel has planned maintenance at Incheon in April

SteelDaily: Scrap import activity at major docks has slowed significantly. As of 6 April, total volumes unloaded or scheduled for arrival across key ports stood at just 17,739 t, reflecting weak import flows.

Port-wise position

• Gunsan Port: SeAH Besteel reported 11,389 t, accounting for 64.2% of total volumes, mainly from long-term contracts
• Pohang Port: Hyundai Steel reported 4,000 t
• Jinhae Port: Around 2,350 t, likely from Korea Special Steel, completed unloading declarations

Major steelmakers have largely halted scrap imports since January, with fresh bookings nearly absent apart from long-term contract volumes from players such as Hyundai Steel and SeAH Besteel.

The slowdown is partly attributed to Hyundai Steel’s planned maintenance at its Incheon plant in April, which led to deferred imports. However, with maintenance nearing completion and operating rates improving at its Pohang structural steel plant, limited scrap intake has resumed on a selective basis.

The sharp decline in imports is expected to impact overall scrap market dynamics, particularly in terms of supply availability and pricing trends.

The Seoul metropolitan area is currently witnessing a temporary oversupply, driven by maintenance at Hyundai Steel’s Incheon plant. Despite a decline in imports, the relaxed supply-demand conditions are expected to persist in the near term.

In contrast, market dynamics in the Busan and Gyeongnam regions remain tighter. With import volumes dropping sharply, supply constraints are likely to intensify, widening the regional supply-demand gap in the short term.

Note: This article has been written in accordance with a content exchange agreement between SteelDaily and BigMint.