South Korea: Scrap inventories dip, breaking 4-week growth streak

• Lower stocks at Dongkuk Steel, SeAH Besteel drag down total
• Maintenance schedules push some mills to reduce inventories

SteelDaily: Scrap inventories at major South Korean steelmakers totalled 974,000 t in the week ended 6 March, declining by 1,000 t from the previous week, as certain mills reduced stocks due to maintenance schedules. The decline also ended a four-week streak of inventory increases. Inventory movements varied across mills, with declines at some producers offset by gains at others.

Region-wise inventory levels

Southern region: Busan and South Gyeongsang, increased by 2,000 t (1.5%) w-o-w to 133,000 t. While mills in Busan recorded a decline in stock levels, inventories rose at mills in South Gyeongsang, particularly at Korea Iron and Steel, mainly due to accumulation during plant maintenance following the Lunar New Year holiday.

Central region: Scrap inventories in the central region declined by around 3,000 t to 320,000 t, largely due to reduced inventories at SeAH Besteel.

Additionally, the Pohang region posted a moderate increase of 7,000 t (3.1%) w-o-w, primarily linked to temporary stock buildup at Hyundai Steel during ongoing plant maintenance. The Incheon region recorded the sharpest decline, with inventories falling by 9,000 t (5.6%) to 152,000 t, mainly driven by lower stock levels at Dongkuk Steel.

Company-wise trends

Inventory changes varied across companies. Dongkuk Steel and SeAH Besteel saw declines in stock levels, while POSCO and several other mills reported increases.

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