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Mar.28.2024 1USD=7.0948RMB
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Hyundai Steel Raises H-beam Price to Restore Profit

https://en.steelhome.com [SteelHome] 2020-09-14 11:29:56

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Hyundai Steel declared to fix the dented first half results with raising H-beam price on domestic supply chains. This means the company will implement the stricter pricing policy until at least October by means of clinging to upticks. According to the industry, Hyundai Steel increases H-beam price by 30,000~40,000 won per ton compared with early September on distribution. Hyundai Steel is mapping out to increase the H-beam price up to at least the middle- or high-end of 700,000 won per ton on the light grade.

The price increase will take place around late September dependent on the market conditions, and it will be applicable at earliest after the fourteenth, the company official confirmed. The increase this time looks to compensate for the risen scrap price and suspension arisen out of the maintenance.

Domestic scrap price is upward sharply after August rising 50,000 won per ton around in a month absence, adding the cost burden. Besides, Pohang factory was idled temporarily for maintenance and modernization, which pressured the costs. Meanwhile, Hyundai Steel sent a signal of further increase over the October shipment. But the level of hike is not determined yet, Hyundai Steel said.

Source: Steel & Metal News
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