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 Wednesday, September 15, that it is increasing its export prices for long steel products by $30-40/mt with immediate effect due to the cost increase resulting from the recent skyrocketing of raw material prices.
Accordingly, the company's export prices (FOB) for H-beam and rebar have increased to the levels of $710/mt and $630/mt respectively.