South Korea’s rebar prices are likely to see a reduction of KRW 154,000/t ($118/t) in Aug’22, as per the rebar pricing formula agreed by steelmakers and the construction industry. As per Steel Daily’s scrap price index, the average price was KRW 492,000/t ($378/t) in the last week of July compared with KRW 646,000/t ($497/t) in Q2CY’22. Thus a gap of $118/t will be adjusted in rebar prices.
Leave a Reply