Korea dongguo steel lowered the benchmark h-beam price

Recently, South Korea's Dongkang Steel lowered the benchmark price of H-beam in January 2019, from the current 900,000 won / ton (about 804.02 US dollars / ton) to 850,000 won / ton (about 759.36 US dollars / Ton). Previously, due to seasonal reasons, the price of Dongguo Steel H-beam continued to drop from 870,000 won/ton to 880,000 won/ton ($777.22/ton~786.16/ton) in November 2018 to 830,000 at the end of 2018. Korean won / ton (about 741.49 US dollars / ton).

At the same time, Dongguo Iron & Steel also announced its price of steel in January 2019, which is the same as the fourth quarter of 2018, that is, the price of SD400 and 10mm diameter steel bars is 740,000 won / ton (about 661.09 US dollars / ton) . In addition, Dongguo Steel is clear that it will implement an independent pricing policy for steel prices on a quarterly basis and will not negotiate prices with Korean domestic construction companies.

At the end of 2018, the price of steel bars supplied to construction companies in Korea was determined through negotiations. Once Dongguo Steel implements an independent pricing policy, its price negotiations with construction companies will no longer be valid.

Source: China Metallurgical News - China Steel News Network

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