News Room - Steel Industry

Posted on 24 Jun 2010

S.Korea POSCO raises steel prices 6 pct from July

South Korea's POSCO, the world's No.4 steelmaker, said on Tuesday that it would raise prices of its benchmark steel products by around 6 percent from July to reflect rising global steel and raw materials prices.

 

Hot-rolled steel would rise by 6 percent to 900,000 won ($765.4) per tonne from 850,000 won, it said in a statement.

 

The rise comes about two months after it raised domestic product prices by 25 percent in late April, the first price adjustment by POSCO since it unexpectedly made its biggest-ever p price cuts of up to 20 percent in May last year.