South Korean steel giant POSCO recently announced its new prices for the domestic market to be effective as of February 1, 2008.
Accordingly, the price of hot rolled coil will increase by Won 60,000/mt ($64/mt) to Won 580,000/mt ($617/mt) ex-works, while the price of cold rolled coil will increase to Won 665,000/mt ($707/mt) ex-works, up Won 65,000/mt ($70/mt). Moreover, the price of plate will rise by Won 75,000/mt ($80/mt) to Won 765,000/mt ($814/mt) ex-works.
$1 = Won 940