MarketWatch reported that South Korean steel major POSCO will raise local prices of all major products by KRW 160,000 per tonne with effect from April 22nd 2011.
The hike will take prices of hot rolled steel coils, a basic form of finished steel, to KRW 1.06 million per tonne.
Among other forms, cold rolled steel will reportedly cost KRW 1.18 million a tonne and thick plates will be priced at KRW 1.11 million per tonne after the hikes, POSCO's first increase in domestic prices since June 2010.
(Source: www.steelguru.com)