South Korea: Major mills reduce scrap procurement prices by $7/t

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in Melting Scrap

Major South Korean steel mills, including Hwanyang Steel Industry, will reduce purchase prices of all grades of steel scrap by KRW 10,000/t ($7/t), effective 12 Nov’24. Additionally, starting 16 Nov’24, all deliveries will be halted until further notice.
The price revision at Hyundai Steel’s Pohang plant will be effective from 14 Nov’24.

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