South Korea’s leading steel mill, Hyundai Steel, has increased rebar prices by KRW 31,000/t ($26/t) for Mar’22 sales on the back of higher scrap prices, as per a SteelDaily report. Post revision, the standard price for rebar stands at KRW 1,022,000/t ($852/t) for Mar as against KRW 991,000/t ($826/t) in Feb.
The retail price for Mar is estimated at KRW 1,102,000/t ($918/t).
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