Hyundai Steel raises long steel product export prices

Hyundai Steel, the world's second largest EAF (electric arc furnace) steelmaker and South Korea's only integrated steel works built with private capital, announced on Tuesday, August 10, that it is increasing its export prices for long product by $40-50/mt with immediate effect due to the minimum $100/mt cost increase resulting from the recent skyrocketing of raw material prices.
 
Accordingly, the company's export prices for H-beam of ASTM standard have increased to $710/mt CFR Southeast Asia, while its export prices for sheet piles and rebars have risen to $720-730/mt CFR China and $600/mt CFR Singapore respectively.