South Korean POSCO raises HRC prices sharply
Time:Thu, 12 Jan 2023 05:31:41 +0800
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Recently, POSCO steel increased the offer of hot-rolled coil(HRC) sharply, but there was no big fluctuation in the current market. Distributors said that this move is to drive the market trend, otherwise, the new price is really unreasonable.
Besides, coil centers considered that there are still many uncertainties such as the epidemic in China. Even if it reflects the related increases in production costs, it's preferable to observe the actual market price after long holidays.
In 2022, China Steel Corp. (CSC) frequently pushed price projects to fight against POSCO's price competition. Therefore, CSC believed that POSCO's price-up showed market demand recovery so that it will no longer grab orders at low prices.
