Starting from November 18th, Pohang Group will raise the prices of thick plate products corresponding to imported thick plates from South Korea. This move may become a driving force for the previously weak South Korean thick plate prices to rise.
Pohang Group has notified Pohang Processing Center to raise the prices of products corresponding to imported thick plates by 10000 Korean won per ton. The price will be raised starting from next week, and the target of this adjustment is GS steel grade.
The processing center believes that the Chinese quotation is at its lowest point at this time, and the market price is showing an upward trend, and holds an optimistic attitude towards this.
The price increase of Pohang this time may become a driving force for the turning point of domestic thick plate prices in South Korea, especially in the hope of reducing the current losses. Industry insiders say that due to the recent slight decrease in inventory in the South Korean market, an increase in the US dollar exchange rate, the release of China’s winter production reduction plan, and the slowdown in domestic prices of thick plates in China, this may become an opportunity for the South Korean thick plate market to turn around.
