Due to the recent price rise for hot-rolled coils, Hyundai Steel decided to increase the price of steel pipe products by 30,000 won/ton from August 1st.

According to Hyundai Steel, the recent high prices of raw materials such as iron ore have increased the cost of steel production. As a result, the price of hot-rolled coils for pipe-making materials has also continued to rise recently.

South Korean domestic steel mills such as Posco have all increased their hot-rolled coil prices. In addition, the import prices for hot-rolled coils are also rising.