October 14, 2008

POSCO to hike export price of galvanized steel sheet

South Korea POSCO has raised its list prices for galvanized steel sheet to Japan by KRW 20,000 to KRW 22,000 per tonne.

The increase is being sought to offset skyrocketing raw material expenses. Besides, POSCO is also considering canceling all kind of its price discounts on their steel products.

Once POSCO has canceled the discounts, the new price will push up by another KRW 50,000 per tonne. The reason for the move is because POSCO’s prices are much lower than the prevailing market rate in the global market.

(Sourced from YIEH.com)