Posco hikes steel prices

The South Korean steel manufacturer, Posco, will be increasing the price of its steel plates for shipbuilding by W 60,000 ($60) per ton. However, Posco explains that it will apply discount ratio depending on market situation and the actual price will be W645,000 ($645) per tonne, up from W 620,000.

Before Posco?s price hike, Korean shipbuilders had agreed with Japanese steel makers on a price increase of $50 per tonne for thick steel plates.