Dongkuk to increase price of steel plates

Dongkuk Steel in South Korea has advised that it will increase the price of steel plates by W 65,000 per tonne from March 16. The price hike is unavoidable because the import price of steel ingots has jumped last week from $499 to between $515 and $520 per tonne. When the hike is implemented, steel plate prices supplied by Dongkuk Steel to the shipbuilding industry will increase from $392 to $448 per tonne.

At the same time, Dongkuk Steel will stop exporting steel products, including steel plate for ships, and allot those volumes to the domestic market.