South Korean steelmakers raise prices

Recently, South Korea's Dongkuk Steel decided to increase the selling price of rebar in January this year, because the rising raw material prices have brought pressures to the business.

Dongkuk Steel plans to rebar new ex-factory price set at 715,000 won / ton. In the meantime, other mills also joined the tide of price hikes. Seven mini-mills in South Korea raised the price of SD400 rebar with a diameter of 10 mm to 685,000 won/ ton by the end of 2017. Korea Steel announced that the rebar price will be raised to 705,000 won/ton starting from January 2, 2018. Hyundai Steel also announced export price of rebar increase 30,000 won/ton to 715,000 won/ton, the price of domestic distributors raised to 705,000 won/ton. ASIMCO announced that starting from January 15, 2018, the ex-factory price of steel pipe will be increased and it is estimated that the increase will reach about 5%.

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