It is reported that Hyundai will perform facilities maintenance for its Pohang works this month which will lead to rebar and sections production reduction by 60,000 tonnes as compared with January 2012. The stoppage will last for 2.5 to 14 days, from February 13th 2012.

Hyundai recently lifted its February 2012 prices of long products by (USD 26 to USD 35 per tonne) to offset higher input costs, but buyer response to the hikes cool without much concern as domestic end user sectors such as construction still remains weak.

The maintenance announcement is predicted as an excuse for Hyundai to cite for lower supply to bring up price.

(Sourced from www.yieh.com)