South Korean steelmaker Hyundai Steel has announced to cut its domestic rebar contract prices by KRW 35,000 per tonne for the Q1.
After the adjustment, the company’s new prices for SD400 grade rebar with diameter of 10mm are at KRW 645,000 per tonne.
The company has cut its rebar prices for four straight months in a row due to declining scrap prices and stable supply in the domestic market.
South Korea’s rebar imports hit 592,000 tonne in 2014, soaring by 38% from the previous year.
Source – yieh
Zhejiang Yaang Pipe Industry Co., Limited