Dongkuk Steel, SeAH Changwon to cut domestic scrap buy prices

South Korean mill Dongkuk Steel's Pohang plant has planned to reduce domestic scrap purchase prices by KRW 10,000 ($8/t) for all grades.

The company is planning to suspend operations owing to a maintenance shutdown, which has led to a fall in scrap demand and prices.

SeAH Changwon steel is also planning to cut scrap prices by KRW 5,000 ($4/t) from 17 Dec'21.