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

Major South Korean steel mills, including Hwanyang Steel Industry, Hyundai Steel’s Incheon and Dangjin plants, and Dongkuk Steel’s Incheon plant, will implement a reduction in the purchase prices of all grades of steel scrap. Prices will be brought down by KRW 10,000/t (approximately $7/t), starting from 25 Nov’24.