Hyundai Steel on Wednesday further raised the export price of bar and section products by up to $50 per metric ton.
With the changes, H-shape section steel has been raised to between $800 and $810 per ton, including freight costs, for the Middle East and Southeast Asia, respectively.
Products bound for Europe and the U.S. will be priced at between $830 and $840 per ton in line with the changes implemented by steelmakers based in the regions, the company said.
The company, which raised the prices of such products last month, said that the additional hike was unavoidable as the price of scrap steel continues to rise.
According to the company the price of scrap steel, which is used in electric arc furnaces, has risen to record levels due to unusual weather conditions seen across the world.
(
cheesuk@heraldcorp.com)
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