Entering the fourth week of May, the Korean produce of reinforcing steel bar and H-Section prices on distribution channels were little changed, trading at 690,000~695,000 won for SD400 and 10mm grade on May 22, the same level as seen early in May.
Korean rebar producers are queuing up to try to level off divergent prices even though they are different company by company while the market demand comes strong still. They remain high hopes for the escalation of price on the market.
Nonetheless, distributors are struggling to cope with the subdued demand. Likewise, Chinese rebar prices stayed flat apart from the two-week upbeat, maintaining the rate of 640,000~650,000 won per ton on the distribution channels. The industry said that the rate should have risen up to at least 670,000 won per ton given the current moves of foreign exchange rate and the like.
In case of H-Section, the trading price of the fourth week of May was around 800,000 won per ton in terms of light gauge grade, organizing the same level as in the third week. Lately, the domestically made low-priced produce was once traded at around 780,000 won per ton, the market participants told.
All in all, the Korean H-Section producers like Hyundai Steel and Dongkuk Steel ae known to have notified of their new pricing policy to return the price trends to normality. They said that the exclusive selling agents agreed in general to the new pricing policy.
Source: Steel&Metal News |
