POSCO to raise prices of steel products this week

13:57, April 19, 2011      

Email | Print | Subscribe | Comments | Forum 

South Korea's top steelmaker POSCO will raise prices of its steel products by 160,000 won (146 U.S. dollars) per ton this week, local media reported Tuesday.

The price of hot-rolled plates will be increased to 1.06 million won per ton while cold-rolled plates will be lifted to 1.18 million won per ton, South Korea's Yonhap news agency quoted POSCO as saying.

The price of steel plates for ships will also be hiked to 1.11 million won per ton from Friday.

"The matter is under discussion with client companies," an official at POSCO told Xinhua, but declined to comment in detail.

POSCO's price hikes are expected to prompt other local steelmakers such as Hyundai Steel, Hyundai Hysco and Dongkuk Steel Mill to pick up their product prices, driving up manufacturing costs in sectors of autos, ships, IT and construction.

Source: Xinhua
BRICS Leaders Meeting 2011
Japan in aftershocks
  Weekly review  
April 14   BRICS nations can be anchor of global economy, politics
April 13   China launches assault on child kidnapping
April 12   China's coastal seas unaffected by Japan's radioactive water
April 11   US has serious human rights abuses: China
April 16   The week in pictures
April 11   PM Kan offers thanks for 'Kizuna' on People's Daily
April 13   Stable BRICS nations prop up world development
April 13   US should stop acting like 'preacher' of human rights
April 15   GDP rises 9.7% in Q1, inflation surges too
April 14   Auditor lady's sudden death sparks overwork debate


  • Do you have anything to say?


Special Coverage
  • BRICS Leaders' Meeting 2011
  • Focus On China
Major headlines
Editor's Pick
  • Fukushima evacuees move to Tokyo
  • Kunqu opera staged in Paris during Shanghai Culture Month
  • Silver prices soar in China
  • Canadian PM on campaign trip in Yellowknife
  • Special exhibition showcases life of Einstein
  • Candles lit for Chernobyl after 25 years
Hot Forum Dicussion