South Korea: POSCO plans to raise CR galvanised steel prices by up to KRW 50,000/t ($40/t) for Feb'23

South Korea's steel major POSCO is planning to raise prices of cold-rolled galvanised sheet products by KRW 30,000-50,000/t ($24-40/t) in February 2023 after having increased prices by KRW 30,000-50,000/t ($24-40/t) in January 2023.

Other domestic steel makers are also trying to push for an increase in prices in each product from January shipments. It shall be noted that steelmakers have faced difficulties in lifting prices in October 2022, but they are now raising prices due to higher hot-rolled steel products prices and increasing imported prices of hot-rolled and cold-rolled products from China. Furthermore, domestic cold-rolled steel manufacturers are likely to secure profitability amid the decision to raise prices next month.

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