South Korea Shipbuilding suppliers group raise the price after an interval of two months (7/12/2010)

South Korea's major shipbuilding plate suppliers POSCO, Hyundai Steel and Dongkuk Steel has the same time, steel prices rose by a ton of 50,000 won 95,000 won per ton (774 U.S. dollars). It is learned that the price increases took place in May this year, South Korean steel enterprises will ship plate prices go from 80,000 won / ton is only 2 months after the interval is short.

South Korean ship was plenty of enterprises concerned, worried that if South Korea's domestic steel prices continue to rise, their profits will be further affected. Since the second quarter of this year, steel imports from Japan decreased sharply since the South Korean vessel's steel enterprises have been reducing inventories. It is understood that 30% of South Korean ship enterprises is needed plate imported from Japan.

Insiders pointed out that South Korean steel prices push up prices and international steel prices goes against the trend. But South Korea's steel enterprises explained that prices of iron ore prices as the inevitable. Steel prices are also states that "although we have raised steel prices, but compared with international market prices, we still are low."
(by China Leiyuan, 7/12/2010)