Domestic steel scrap price on the rise in the week of March 21 in Korea

In the southern region of Korea, the domestic steel scrap price has increased. In the Yeongnam region, unit prices for steel scrap from Dongunk Steel, Daehan Steel and Korea Iron and Steel increased by KRW 20,000/ton ($15.33) for light products and KRW 10,000/ton ($7.67) for other products.

Scrap steel prices continued to fluctuate in the central region of Korea after Korean firm Hyundai reduced its trade in raw iron products to Jeonju.

At the same time, Dongkuk company announced that it has upgraded the electric furnaces at its Incheon plant.

Iron ore prices in Korea remained at $132 per tonne (CFR), while coking coal was $351/t, down $17 per ton from the week of March 14.