POSCO increased its distribute plate offering price, enticing other plate mills to follow shortly. According to the plate distributors source, POSCO raised its GS grade offering price by 10,000 won per ton, while other grades like SS400 and SM400 prices were held on. The price increases were notified of to distributors by company over three days from 17th through 19th April, available on an ordering to be put into the production line beginning in the fourth week of April through the first week of May, the source said.
The steel industry people close to POSCO delivered the likelihood that POSCO will continue raising prices for other sorts of steel grade on the steep rising in the costs from the stronger raw material prices. For example, the iron ore price increased up to $95 per ton level recently, cfr Chinese ports, which were $20 around per ton higher versus early in the year. The coking coal prices also maintain at $200 around per ton, fob Australia still.
As a result, other steel mills like Hyundai Steel and Dongku Steel look to join the plate price increases. Dongkuk Steel had tried to elevate its plate offering prices bore POSCO implemented new tag, but failed because the market was strongly resistant. However, the company is likely to take work forward again following POSCO.
The steel industry people said that the iron ore import prices are so strong that there is nothing to bar from notifying the price increases, and other plate mills are expected to follow POSCO sooner or later.
Source: Steel&Metal News |
