SEOUL: South Korea's Hyundai Steel, the country's No.2 steelmaker, said on Friday it would raise export prices of its steel products by $30 per tonne for June/July shipments on rising steel scrap and freight costs.
Prices of H-beams, used mainly in construction, will rise to more than $810 a tonne on a cost-and-freight (CFR) basis from $780-$800 for short-distance destinations such as Southeast Asia, and to more than $850 a tonne, CFR, for long-distance destinations such as the United States, the company said in a statement.
The firm said economic recovery and growth in resource development projects was expected to boost H-beam and section demand by 8-10 per cent year on year in 2010. Hyundai Steel last month announced domestic price hikes for major steel products.
http://economictimes.indiatimes.com/news/international-business/Hyundai-to-raise-steel-export-prices-for-June/July/articleshow/5902207.cms
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