South Korea's Domestic Scrap Market On Upswing- Steelmakers Up Purchase Prices For Two Consecutive Weeks

摘要

South Korea's domestic ferrous scrap market is on the upside. Various domestic steelmakers increased their purchase prices of locally available ferrous scrap by W15,000/MT (about Y1,100) last week, which hardly brought marked growth of arrivals at their works. As a result, they raised their purchase prices by an additional W10,000-15,000/ ton from Dec 7, which has led to a cumulative upswing of W20,000-25,000/MT (about Y1,500-1800) so far in the domestic ferrous scrap market.