Hyundai Steel & POSCO Seek USD 1000 Price for SBQ Plates in H2
Econo Times reported that South Korean steelmakers POSCO and Hyundai Steel are demanding that the ship building quality steel plate prices be increased to KWR 1.15 million per tonne (USD 1004) in the second half of 2021, up by 64% from KWR 700,000 per tonne(USD 611) in the first half of 2021. The two steelmakers are currently negotiating with Korea Shipbuilding & Offshore Engineering Co, Samsung Heavy Industries Co and Daewoo Shipbuilding & Marine Engineering Co.
Steelmakers and shipbuilders negotiate ship steel plate prices twice a year.
A steel industry official believes it would take some time before they reach an agreement due to the huge price gap between the two sides.