South Korea: Weekly steel scrap arrivals rebound past 60,000 t as POSCO resumes purchases

• • Plate and specialty steelmakers increase import activity

• • Import arrivals strengthen across major Korean ports

SteelDaily: South Korea’s steel scrap import activity increased significantly in early June, with declared unloading volumes at major ports reaching approximately 63,500 t as of 9 June. This marks the first time since mid-February that declared import volumes have exceeded the 60,000 t threshold, reflecting stronger procurement activity among plate and specialty steel producers.

Import declarations by company:

• • POSCO declared seven cargoes totaling around 17,000 t.

• • SeAH Besteel completed import declarations for approximately 15,300 t.

• • SeAH Changwon Specialty Steel declared two cargoes totaling around 3,700 t.

• • Dongkuk Steel scheduled to unload approximately 11,500 t through Incheon Port.

• • Around 6,000 t across three cargoes awaiting unloading at Jinhae Port.

The increase in imports was primarily driven by plate and specialty steel manufacturers. POSCO, which had shown limited import activity in recent months, re-entered the market with substantial cargo declarations, while SeAH Besteel and SeAH Changwon Specialty Steel also expanded procurement volumes.

Meanwhile, activity in the long steel segment remained comparatively moderate. Dongkuk Steel accounted for the majority of scheduled arrivals in the sector, while additional cargoes continued to await discharge at Jinhae Port.

The recent increase in import declarations suggests that major South Korean steelmakers are actively replenishing raw material inventories. Market participants will closely monitor whether the higher import volumes translate into increased spot buying activity in the coming weeks.

Note: This article has been written in accordance with a content exchange agreement between SteelDaily and BigMint.