Recently, Hyundai Steel raised the price of its steel plate. Since May 7, its new price tag for steel plate provided to domestic Korean distributors has come into effect. At the same time, Hyundai Steel raised its online trading quotation for steel sheets by 20,000 won/ton (about $16.83 per ton).
It is understood that POSCO and Dongkok steel have raised their steel plate prices respectively in the past month. Among them, POSCO increased 10,000 won/ton (about US$8.41/ton) and Dongkok steel increased 30,000 won/ton (about US$25.24 per ton).
The rise of steel plate price reflects the rise of iron ore import price to a certain extent. Last year, the average CFR price of iron ore was about $69.65 per ton, which is expected to rise to $80 per ton to $90 per ton this year.
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