Tag: South Korea: Hyundai Steel concludes heavy plate price negotiations with shipbuilders

Steel major Hyundai Steel has recently concluded price negotiations for heavy plates with major domestic shipbuilding companies at KRW 11,00,000/t ($860/t). Price levels have reduced by KRW 1,00,000/t ($78/t) in H2CY’22, while other steelmakers like POSCO’s negotiations are not completed yet and still in progress. Shipbuilders are seeking for large price cuts during negotiations this…