Price hike announcement from Union Steel

Price hike announcement from Union Steel

According to recent reports from the industry, Union Steel is going to hike its prices of certain products by Won 100'000-120'000 (almost $88-105) per ton in order to offset surging raw material prices worldwide. In line with this price increase cold rolled steel price will grow up to Won 620'000/ton (almost $542/ton) from its current level of Won 520'000/ton. Union Steel is planning to raise price for galvanized steel sheets by Won 110'000/ton (around $96/ton) and zinc aluminium alloy coated steel sheet by Won 120'000ton (around $105/ton). These price increases will be valid as of April 21, 2004.