POSCO to increase hot rolled coil price for Asian markets

POSCO to increase hot rolled coil price for Asian markets

According to reports received from SteelOrbis correspondent in Asia; Korean steelmaker POSCO announced last week that; it is planning to increase its export price for hot rolled coils in Asian markets for the first quarter of 2003. The giant Korean steel maker have been increasing its prices regularly during the last 12 months in line with the international market trend. This time, POSCO is going to increase its hot rolled coil price somewhere in the range of $8-16/mt for Japanese market and $20-30/mt for China and other South East Asian markets according to the announcement made. The news came as no surprise as the mill had already announced price increases on its cold rolled prices earlier in December.