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

Major South Korean steel mills, including Hyundai Steel’s Incheon and Dangjin plants, along with Dongkuk Steel’s Incheon plant, will lower the purchase price of all steel scrap grades by KRW 10,000/t ($7/t), effective from 12 Oct’24. Meanwhile, SeAH Changwon Special Steel will halts scrap acceptance on the 9 Oct’24.