POSCO increases its domestic market prices

POSCO increases its domestic market prices

According to recent news in the market, Korean steel giant POSCO is increasing its prices due to rising raw material prices in international markets and the price gap between steel products in domestic market and abroad. POSCO considers effecting a price increase of Won 80'000 ($70) per ton on hot rolled coils and cold rolled coils, making the prices Won 485'000 ($424) and Won 600'000 ($525) per ton respectively. The price increase will be effective as of April 19, 2004. Moreover, price of steel plates for shipbuilding will increase by Won 70'000 to Won 500'000 ($437) and the price of mild steel for wire rods will be increased by Won 90'000 to Won 510'000 ($446).