December 03, 2008

Hyundai Steel pushes up rebar price

South Korea’s Hyundai Steel has raised its rebar price due to soaring steel scrap prices.

It is said that the price rise remains between KRW 80,000 to KRW 140,000 per tonne. However, South Korean government strongly intends to stabilize consumer prices which will possibly hold the increase of rebar price to under KRW 100,000 per tonne.

Moreover, the import billet prices to South Korea continue to rise. Soaring Russian resources costs have caused the import price to reach USD 900 per tonne CFR.

(Sourced from YIEH.com)