Affected by the higher scrap prices and lower production capacity, the Korean major steel mills have planned to hike bar price and the price rise is expected to become effective in this month. However, it’s said that the price rise might be unfavorable to buyers due to weak demand. Meanwhile, it’s known that Hyundai Steel and Dongkuk Steel have announced to hike bar prices to KRW740,000/ton from KRW720,000/ton.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65911&division=A4
