S. Korean shipbuilders ask Japan to cut steel prices

S. Korean shipbuilders ask Japan to cut steel prices

South Korean shipbuilders demand that Japanese steelmakers reduce their steel plate prices. The price for imported Japanese steel plates for shipbuilding is currently $680/ton. This price is higher than the prices charged by South Korean and Chinese suppliers. Domestic shipbuilders indicate that the price of Japanese products, which account for over 30 percent of their annual needs, should be cut below Won 600,000/ton ($618/ton). South Korean steel producers POSCO and Dongkuk Steel Mill reduced the prices of their steel plates to Won 615,000/ton ($631.6/ton) this year.