South Korea’s steel major POSCO has decided to raise hot-rolled (HR) steel prices by KRW 50,000/t ($39/t) for Apr’23 shipments. This decision comes amid rising global prices and increasing cost burden due to high iron ore and coking coal prices. It shall be noted that China’s Baosteel and Vietnam’s Formosa Ha Tinh have raised HRC prices for Apr’23 and May’23, respectively.
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