South Korea: Steel majors to cut domestic scrap purchase prices by up to $12/t

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South Korea’s major steelmakers Hyundai Steel, SeAH Besteel and Dongkuk Steel plan to cut purchase prices of all grades of domestic scrap from 28 Jun’22, as per Steel Daily.
Hyundai Steel will trim prices for the Pohang, Incheon and Dangjin steelworks, while Dongkuk will cut prices for the Incheon plant by KRW 10,000/t ($8).
SeAH Besteel will slash purchase prices by KRW 15,000/t ($12).

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