Weakening won having little impact on Korean steel mills

Apr 09, 2013 | 11:35 AM | Weilyn Loo

Tags  South Korea, Won, Hyundai Steel, Steel First, Weilyn Loo, scrap

SINGAPORE — South Korean steel producers might import less ferrous scrap due to the weakening won against the U.S. dollar, but the cut in purchases is likely to be only temporary, sources say.

"Imports will decrease in the short term, but it will not go on for very long," a mill source said April 9, noting that while the exchange rate may not be the most favorable, not buying scrap simply isn’t an option.....

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