South Korea: Major steel mills to reduce scrap buy prices by up to $23/t

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South Korea’s steelmajors – Hyundai Steel, Dongkuk Steel and SeAH Changwon – will cut domestic scrap purchase prices from 16 July, as per Steel Daily.
Hyundai Steel will trim prices for its Pohang, Incheon and Dangjin steelworks, while Dongkuk Steel will reduce prices for Pohang and Incheon plants by KRW 10,000/t ($8).
Interestingly, SeAH Changwon will lower scrap prices by KRW 30,000/t ($23).

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