Posco to hike steel product prices

Print this page Posted on : 07-26-2007 by recycleinme.com

Posco, Asia’s third-biggest steelmaker, will increase prices next month for some of its products because of rising demand. The price of hot-rolled coils produced mainly from scrap steel will rise 2 per cent, top 510,000 won ($558) a tonne, from Aug.9 Ms Ko Min Jin, a spokeswoman for the Pohang, South Korea-based company, said. The price of plates for construction, excluding shipbuilding, will climb 7.8 per cent, to 690,000 won. South Korean demand foir hot-rolled coils and steel plates is expected to exceed supply by 3.7 million tonnes and 3.1 million tonnes respectively this year, Mr. Park said.

Source : Business Line