It is reported that South Korea's fourth largest steelmaker Dongbu Steel Co. plans to raise prices of its key steel products next month to reflect increased costs of raw materials.

It said “The price of hot rolled steel will be raised by KWR 50,000 per tonne (USD 42) to KWR 900,000 per tonne, while that for cold rolled steel it will be hiked to KWR 1,020,000 per tonne from the current KWR 970,000 per tonne.”

Dongbu Steel said the price hikes are in line with the increased costs of coal, iron ore and other raw materials.

(Sourced from Yonhap)