Hyundai Steel increased its plate biding price on a February surplus tonnage. This was with an attempt to secure profitability which the company driSteelves across the entire selling routes. Hyundai Steel pushes ahead to increase its plate surplus price by 20,000 won per ton level based on the on-line bidding transactions. Hyundai Steel had raised 20,000 won per ton in January on the on-line bidding basis.
This seems according to the company’s top priority on profitability over the first half-2020 plate sales strategy. Last year, domestic plate industry suffered from the import surge of low-priced plate as well as due to the demand contraction in spite of the risen raw material prices, and had difficulties in increasing the offering prices. This year, however, the plate makers including POSCO, Hyundai Steel and Dongkuk Steel are pursuing to raise plate pries regardless of the channels of sales since the end of last year when the import prices began to rebound. They showed the position to take further increase either during February or within March. Hyundai Steel’s increase of bidding price will possibly influence sales other than bidding, the industry people said.
Source: Steel&Metal News
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