It's reported that Korean Hyundai Steel mulls to raise its export prices for hot rolled coils (HRC) by US$40~US$50/ton for February and March. It's analyzed that the price rise was supported by the firm steel prices international market and production cut in the Korean domestic market. The steel prices increased in the international market, boosted by surged iron ore prices. Meanwhile, the Korean steel mills maintenance schedule in the first quarter of this year has affected the production volumes. It's known that the steel production at Hyundai Steel's Dangjin works is forecasted to reduce 500,000 tons in the first quarter.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62601&division=A2
