Korea Dongguo Steel lowered the benchmark price of H-beam

Recently, South Korea's Dongkang Steel lowered the benchmarkprice of H-beam in January 2019, from the current 900,000 won / ton (about804.02 US dollars / ton) to 850,000 won / ton (about 759.36 US dollars / ton).Previously, due to seasonal reasons, the price of Dongguo Steel H-beamcontinued to drop from 870,000 won/ton to 880,000 won/ton($777.22/ton~786.16/ton) in November 2018 to 830,000 at the end of 2018. Koreanwon / ton (about 741.49 US dollars / ton).

At the same time, Dongguo Iron & Steel also announced itsprice of steel in January 2019, which is the same as the fourth quarter of2018, that is, the price of SD400 and 10mm diameter steel bars is 740,000 won /ton (about 661.09 US dollars / ton) . In addition, Dongguo Steel is clear thatit will implement an independent pricing policy for steel prices on a quarterlybasis and will not negotiate prices with Korean domestic constructioncompanies. At the end of 2018, the price of steel bars supplied to constructioncompanies in Korea was determined through negotiations. Once Dongguo Steelimplements an independent pricing policy, its price negotiations withconstruction companies will no longer be valid.