South Korean Steelmakers Raise Steel Prices

    Recently, South Korea's Dongkuk Steel decided to increase the selling price of rebar in January this year, because the rising raw material prices have brought cost pressures to the business.

    Dongkuk Steel plans to rebar new ex-factory price set at 715,000 won / ton.

    In the meantime, other mills also joined the tide of price hikes. Seven mini-mills in South Korea raised the price of SD400 rebar with a diameter of 10 mm to KRW 685,000 / tonne by the end of 2017.Korea Steel announced that the rebar price will be raised to KRW 705,000 / t starting January 2, 2018. Hyundai Steel also announced a rebar export price increase 30,000 won / ton to 715,000 won / ton, the price of domestic distributors raised to 705,000 won / ton. ASIMCO announced that starting from January 15, 2018, the ex-factory price of steel pipe will be increased and it is estimated that the increase will reach about 5%.