POSCO and Hyundai Steel, two major South Korean steel producers, have agreed to settle prices of all cold-rolled products supplied to Hyundai and Kia Motors. POSCO has decided to raise the price of CR galvanised, while Hyundai Steel had hiked CR plates prices by KRW 153,000/t ($122/t) in Jan’22. It is expected that the prices for H2 2022 will be adjusted based on the results of the negotiations.
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