It’s reported that South Korean Dongbu Steel planned to raise the domestic prices of hot rolled (HR) steel to 900,000 won/ton from the current 820,000 won/ton to reflect rising input costs as the South Korean Won has depreciated 10% against the US dollar.

However, Posco, the largest steelmaker in South Korea currently offered the HR steel with prices of 830,000 won/ton to domestic market.

Besides, it’s said that China may cut the exports prices of steel flat products by US$30~US$40/ton to South Korea to gain orders after the long vacation in October.

Affected by these factors, industry sources indicated that Dongbu Steel may face difficulty to hike HR steel in domestic market