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Korean steel industry raises product prices in September

2013-09-05 09:00

South Korean steel companies recently decided to raise prices on some of their products. According to industry sources, POSCO will increase the price of hot-rolled steel sheets by KRW 30,000 per ton starting with September orders, while prices for thick plates and cold-rolled steel sheets will increase by KRW 20,000 and KRW 20,000-30,000 per ton, respectively.

Hyundai Steel and Dongkuk Steel will also raise prices on hot-rolled steel sheets and steel bars by KRW 20,000-40,000 per ton.

South Korean steel companies are successively raising prices to reflect the rising global steel prices, given the increase in raw material costs.

Furthermore, industry analysts believe that the current price increase is not significant, and therefore its impact on other industries will likely be minimal. Large customers such as shipbuilding companies purchase steel products under separate long-term contracts, so they will not be affected by the price increase in the short term.

Liwei

Address: No. 6, Xingyuan Avenue, Rucheng Street, Rugao City, Jiangsu Province

Postcode: 226500

Tel: 86-513-87268999、86-513-7268666

Fax: 86-513-87268998

Email: info@ntlw.com

WeChat：15335077201

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