Posco ups steel price again

POSCO will raise prices of its steel plates and hot-rolled coil to Japan by as much as 5,000 yen ($48) a tonne in the first quarter as demand from China pushes up prices.

Korea?s largest steel maker will raise prices of steel plates used in construction and other purposes excluding shipbuilding, by 3,000 to 5,000 yen ($29 to $48) for the three months starting in January, said Kim Soo-jung, a spokeswoman for the Pohang-based company.

She denied a Japan Metal Daily report that said POSCO would raise ship steel prices.

“We are raising prices according to global price increases,” Kim said during a telephone interview. She declined to comment on the final prices of both steel products. The company will increase the amount of the steel plates to Japan by about 50% to 30,000 tonnes.