It is reported that Chinese steelmakers quote USD 520 per tonne to USD 530 per tonne CFR for HRC and USD 530 per tonne to USD 540 per tonne CFR for thick plate exported to South Korea recent days.

As per report, it is hard for South Korean importers to profit from such a high quotation as the market price of HRC and thick plate only goes at USD 571 per tonne in the local market.

Insiders said "A further price rise is likely to happen in the future, yet South Korean importers can not accept such high quotation right now as for the still weak demand."

(Sourced from MySteel.net)
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