Asian steel markets keep soaring as the import prices of hot rolled coil in South East Asia have hiked to US$670~690/ton in early February, up by nearly US$70/ton from the beginning of 2013 due to price up in Iron ore and production cut by Korean suppliers.
For Korean steel market, the import price of HRC in Korean from China has increased by US$20/ton to about US$690/ton since the Chinese New Year. Furthermore, Korean local prices still keep flat as POSCO and Hyundai Steel are around US$740/ton and US$720/ton respectively.
It is expected that Korean mills will increase their supply of HRC since March, but the real demand is still uncertain to completely rebound.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63169&division=A2
