Korean domestic HRC producers Posco cut hot rolled coil prices, due to demand of end users remain weak, the current buyers buying interest is not high.

Last week, Posco cut its hot rolled coil prices of grade GS400, reportedly lowered the rate of about 20-30 thousand won / ton (USD 18-26 / ton), the current market price of GS400 is about 43-44 ten thousand won / tonne (USD 378-387 / ton), the offer of grade SS400 quoted at 45-47 ten thousand won / ton. The price adjustment this time is in line with market expectations, since the low price of the imported HRC from China make the local steel mills under pressure.

 The market expected that Hyundai Steel may soon cut the price of hot rolled coil.

                                                         XINSTEEL NEWS