South Korea's largest steel producer POSCO has announced its plans to raise domestic prices for the majority of its products in an effort to offset increased costs for iron ore and other raw materials.
As of April 17, the steelmaker's prices for HRC will be increased by Won 120,000/mt ($123/mt) to Won 700,000/mt ($717/mt), while its prices for CRC and shipbuilding plates will rise by Won 120,000/mt ($123/mt) to Won 785,000/mt ($805/mt).
Price rises for other POSCO products are as follows:
Product | Price increase (Won/mt) |
Plate (other than shipbuilding) | + 75,000 ($77/mt) |
Wire rod | +120,000 ($123/mt) |
HDG | +140,000 ($143/mt) |
Grain-oriented steel | +200,000 ($205/mt) |
Non-grain-oriented steel | +140,000 ($143/mt) |
Other steel products | +120,000 ($123/mt) |