South Korea: Major steel mills cut scrap purchase prices

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South Korean steel producers reduced their scrap purchase prices by up to KRW 10,000/t ($8/t) with effect from 22 Feb’23, as per a SteelDaily report.
Prices were reduced for Hyundai Steel’s Incheon and Dangjin plants and POSCO’s Pohang and Gwangyang plants by KRW 5,000/t.
SeAH Besteel reduced scrap prices by KRW 10,000/t.

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