Leading South Korean steel mill, Hyundai Steel, has announced a reduction in rebar prices by KRW 4,000/t ($3/t) for Jan’22 sales. The price for distributors stand at around KRW 1,042,000/t ($877/t), while for the construction segment rebar prices are at around KRW 962,000/t ($810/t).
Prices are revised on a quarterly basis by applying the iron scrap linkage formula agreed in the past.
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