South Korea: POSCO increases plate prices by KRW 30,000/t ($25/t) for Mar’22

POSCO plans to raise heavy plate prices by KRW 30,000/t ($25/t) for Mar’22 sales, per a SteelDaily report. Rising raw material (iron ore and coking coal) prices alongside supply shortage amidst increased demand from shipbuilding sector has contributed to the price hike. Another two major steel producers, Hyundai Steel and Dongkuk Steel, too, will likely raise their prices by KRW 30,000/t ($25/t) for Mar’22.