POSCO reportedly preparing to up local flat steel prices for Q2

It is rumored in the market that South Korea-based steelmaker POSCO is planning in April to hike its listed domestic prices for hot rolled coil (HRC), cold rolled coil (CRC) and plate for the second quarter, amid the continuous rise in international raw material costs.
 
Once POSCO raises its official prices, other South Korean steel producers including Hyundai Steel, Dongkuk Steel Mill and HYSCO will probably follow suit. It is thought that, for the quarter in question in South Korea, domestic steel producers' local HRC prices will increase from $807/mt to $897/mt, their CRC prices may record a similar rise, while their plate prices are also expected to increase.