South Korea: Major steel mills to raise scrap procurement prices

South Korea’s leading steelmakers Hyundai Steel (Incheon and Dangjin plants) and Dongkuk Steel (Incheon plant) will increase scrap prices by KRW 10,000/t ($7/t) for a special purchase over 13-22 May’25. SeAH Changwon will raise raw iron and heavy scrap prices by KRW 20,000/t ($15/t) over 13-17 May. Taewoong will increase heavy scrap by KRW 20,000/t ($15/t) and light scrap by KRW 10,000/t ($7/t) over 13-19 May.