Tag: South Korea: Steel majors fail to raise prices of auto plates despite surging costs

Steelmakers must negotiate a price for delivery of automotive sheets Nippon Steel and Toyota agree to JPY 20,000/t hike in delivery prices Small suppliers being rendered unviable due to surge in raw material prices Since April, 2021, the prices of automobile steel sheets have increased by only KRW 120,000/t ($99.09/t) in the South Korean market…