South Korea: POSCO to lower domestic scrap purchase price

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South Korea’s leading steelmaker POSCO will cut domestic scrap buy prices, as per Steel Daily reports.
The company will cut its scrap procurement price by KRW 10,000-15,000/t ($8-13/t), with effect from 6 Dec.
The price cuts come in the backdrop of falling scrap import prices as well as reduction in purchase prices by other domestic steelmakers, SteelMint notes.

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