South Korea: Scrap inventories cross 1 mnt on strong receipts at Incheon as Hyundai Steel cuts prices

• Inventories rise by 4.5% w-o-w on higher inflows
• Hyundai and Dongkuk Steel see notable increases in inventories

SteelDaily: Scrap inventories at 11 major South Korean steelmakers rose to 1.021 million tonnes (mnt) in the week, increasing by 4.5% w-o-w, driven mainly by higher inflows and regional stock accumulation. The rise was largely concentrated in bar and shape steel segments.

Region-wise inventory levels

Incheon region: Inventories increased sharply to 208,000 t, up 27,000 t (14.9%) w-o-w, mainly due to higher receipts following Hyundai Steel’s price cuts and stock build-up at Dongkuk Steel amid maintenance activities.

Central region: Stocks stood at 322,000 t, with overall levels impacted by inventory reduction at SeAH Besteel. Despite strong inflows, higher consumption continued to keep inventories under pressure.

Pohang region: Inventories declined by 8,000 t (3.5%) to 220,000 t, supported by increased consumption driven by strong structural steel production at Hyundai Steel and Dongkuk Steel.

Busan & Gyeongnam region: Stocks rose to 146,000 t, up 13,000 t (9.8%) w-o-w, as mills actively secured volumes through contracts and spot purchases.

Company-wise trends

Inventory trends remained mixed across mills, with notable increases at Hyundai Steel and Dongkuk Steel, while SeAH Besteel reported a decline due to active consumption.

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