Reuters reported that Dongkuk Steel will raise prices of rebar by 6.7% this week, following last week's hike by rival Hyundai Steel.

Dongkuk said that prices of rebar would rise to KRW 780,000 a tonne from KRW 731,000 and the move would reflect an increase of more than 30% in the price of steel scrap, a major feedstock for construction steel.

(Sourced from www.reuters.com)