SOUTH KOREA SCRAP: Demand improves amid continued recovery from Covid-19

May 09, 2020 / www.metalbulletin.com / Article Link

Demand for imported ferrous scrap remained elevated in South Korea over the past week with domestic prices rising due to the restart of some key industries, market sources told Fastmarkets on Friday May 8.

After a sharp rise in South Korean Covid-19 cases during February and March, new infections have slowed to just a handful over recent days. On Wednesday, the government allowed offices, libraries and museums to re-open.
The country's construction sector has also returned to work, boosting scrap demand at long steel-producing electric arc furnace mills, one Korean steelmaker source told Fastmarkets.

"Construction is back up and running, but it is moving slow. If it was about 30 days to finish a job before the shutdown, in some areas it may take double the time now," the Korean mill...

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