South Korean Hyundai Steel has announced to raise its steel rebar price by 50,000 won/ton, effective from 28 February.

The price of steel rebar with 13mm diameter is from 681,000 won/tons to 731,000 won/ton. In December of last year, the rebar price was 581,000 won/ton and the price reached 621,000 won/ton last month.

Scrap prices are believed to be the main reason behind the rebar price increase.