South Korea: Major mills hike scrap procurement prices by up to $10/t

South Korea’s major steelmakers raised steel scrap purchase prices from 11 Feb’25.

• Hwanyang Steel, Korea Special Steel, Daehan Steel, YK Steel, and Dongkuk Steel’s Incheon Plant raised prices by KRW 10,000/t ($7/t) for all grades.
• SeAH Besteel raised tags by KRW 10,000/t ($7/t) for most grades, with a KRW 15,000/t ($10/t) increase for certain raw and heavy iron grades.