South Korea's Hyundai Steel has hiked the spot hot rolled
coil (HRC) prices to KRW 20,000-30,000/ton (about US$17-26/ton) this week to the
local distributors.
Posco is also considering rising the prices. For SS 400 grade 3.0mm HRC,
material from Posco is offered at KRW 820,000-830,000/ton (about
US$724-733/ton) and Hyundai Steel at KRW 800,000-810,000/ton
(aboutUS$706-715/ton).
The steelmakers strive to increase to redress declining profits but it is not
easy to increase buys in present low demand. Yieh Corp reported.
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