en.Wedoany.com Reported - Purchase prices in South Korea's domestic scrap steel market have been raised intensively recently, with major steel mills increasing their purchase prices by 10 to 15 won per kilogram, equivalent to a rise of approximately $7 to $10 per ton. This round of price adjustments has been driven by intensified competitive procurement among steel mills and the persistently tight supply of local scrap steel. To secure resources, some downstream users have begun paying premiums above the listed prices in actual transactions.

Hyundai Steel has raised its scrap purchase prices at its Incheon and Dangjin plants by 10 to 15 won/kg (approximately $7 to $10/ton). POSCO, effective May 5, has increased prices for most scrap steel grades by 10 won/kg (approximately $7/ton), while raising prices for light briquettes and sheared scrap by 15 won/kg (approximately $10/ton).

Meanwhile, SeAH Besteel, Korea Steel, Korea Special Steel, and Dongkuk Steel have also announced increases through special procurement programs, implementing a rise of 10 won per kilogram (approximately $7/ton) starting May 7. This synchronized adjustment of scrap purchase prices by multiple steel mills reflects the current supply-demand imbalance in South Korea's scrap steel market.

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