It’s reported that Korean steelmaker Hyundai Steel announced to hike its export prices for H beams and other sections by US$20~US$30/ton for August orders.
After the adjustment, the export prices for H beams are at US$700~US$720/ton CFR Singapore; those to North and South America are at US$720~US$740/ton CFR and those to Middle East are at US$710/ton CFR.
Hyundai Steel stated that the price hike was to reflect higher ferrous scrap prices and increased electricity tariffs in Korea.
Meanwhile, the company was confidence to raise the export price successfully, supported by better demand from Southeast Asia.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65666&division=A4
