POSCO to hike steel plate prices
South Korean steel giant POSCO will reportedly increase its prices effective as of October 18, 2004 to catch up to international prices. Accordingly, price of steel plate will be increased by Won 50'000 ($43) to Won 535'000 ($467) per ton effective as of October 18, 2004. Moreover, it is reported that price of steel plate for ships will be increased by Won 65'000 ($56) to Won 600'000 ($524) per ton effective as of next Monday.