Buying activity for ferrous scrap cargoes imported into South Korea has increased over the past week, with steelmakers looking to acquire Japanese material, market sources told Fastmarkets on Thursday April 30.
South Korean scrap demand has not held up over recent months. The spread of the Covid-19 pandemic across the country has seriously reduced high-grade steel demand and even led to major producer Posco halting its purchases of both imported and domestic scrap during the second quarter of the year.Fellow sector giant Hyundai Steel has also been far less active in the spot market recently, but Fastmarkets heard...