South Korea: Hyundai Steel increases rebar price by $56/t for Q4’21

South Korean steel giant Hyundai Steel has increased its rebar base price to KRW 928,000/t ($783) for Q4CY’21and Oct’21. Revised price is higher by KRW 66,000/t ($56) from Q3’21 and lower by KRW 2,000/t ($2) from Sep’21. The price revision was less on demand basis and more due to an uptrend in steel scrap prices