South Korea: Major steel mills to cut domestic scrap purchase prices by $8/t

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South Korea’s major steelmakers POSCO, Hyundai Steel, SeAH Besteel and Dongkuk Steel plan to cut domestic scrap purchase prices from 23 Jun’22, as per Steel Daily.
Hyundai Steel will trim prices for the Pohang, Incheon and Dangjin steelworks, while POSCO wil reduce prices for Gwangyang and Dongkuk for Pohang and Incheon plants.
The companies will slash purchase prices of all grades of scrap by KRW 10,000/t ($8/t).

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