The Korean steelmaker Hyundai Steel announced to hike its export prices for H-beams and other steel long products by US$20~US$30/ton last week, driven by higher electricity charges. Besides, it’s predicted that the other mills might follow Hyundai Steel’s step to raise steel longs prices by KRW20,000~KRW50,000/ton. It’s learned that the Korean government approves Korea Electric Power Corporation to raise electricity charges by 6.4% to the domestic steelmakers, making the steelmakers’ input costs rise by US$4/ton.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67344&division=A4
