Hyundai Steel will raise the base price of steel pipes by KRW 120,000/t ($97/t) and plating by KRW 20,000/t ($16/t) from 1 May. The price hike was the result of an increase in manufacturing costs due to the rise in prices of raw materials and subsidiary materials such as zinc heavy plate. After price hikes by SeAH and Hyundai Steel, other major domestic producers are likely to follow the suit.
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