South Korean steel companies plan to raise prices in December

Recently, South Korea's cold-rolled coil manufacturers said they would increase the delivery price of their products in December. POSCO said prices for cold-rolled coil and hot-dip galvanized steel will rise by 20000 won per ton (about $18.08 per ton) starting from December's orders. It is understood that Hyundai Steel is also considering raising prices.

Steel rolling enterprises such as Dongkuk Steel and Dongbu Steel said that they would raise their prices by 30000 won / T (about 27.12 US dollars / ton) from December. South Korean industry insiders revealed that the two companies have completed the relevant assessment and plan to issue price increase notices to customers from the fourth week of November.

In fact, since the second half of this year, the price of hot rolled coil in South Korea has increased by 130000 won / ton (about 117.52 US dollars / ton). South Korean steel enterprises believe that in view of tight supply, the current situation is mature enough to raise prices.

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