Japanese Nippon Steel and JFE Steel are seeking to increase the price of hot rolled coil by US$20/ton t0 South Korea.

Nippon Steel will negotiate the price of hot rolled coil with Union Steel, when JFE will have talks with Hyundai Steel and some other steel mills. Due to the expected higher prices of raw material in 2008, Nippon Steel is targeting a price rise of US$20/ton.

China’s Baosteel and Taiwan’s China Steel also plan to lift HR domestic price next year. In South Korea, Posco and other mills are still holding their HR and CR price unchanged.