South Korea's POSCO said that the price of hot-rolled coil (HRC) in the global market has risen, coupled with the increase in production costs of iron ore and coking coal, it is inevitable to increase the HRC base rate in the domestic market.
With the increase of 50,000 won in HRC prices for April, the total increase over the past 4 months by POSCO has come to about 200,000. Due to the increase of POSCO, it is expected that the carbon steel pipe mills in South Korea will follow up and increase their March offers immediately.
In addition, South Korean plate mills' HRC, cold-rolled coil (CRC), and electro-galvanized steel (EG) price increases have also been announced one after another. Therefore, it is expected that before the second quarter of 2023, steel pipe factories will raise prices to restore the production margin.
Source: YIEH
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