Hyundai steel, like other Korean producers, has announced that they have reduced rebar prices by US$79/ton. Some producers have dropped prices to an even higher extent is as high as US$95/ton. However, due to fluctuating value of Korean currency against US dollars, three dollars equivalent of local prices is still the same during the last two weeks. Offer prices of finished imported products and semis have dropped during the last few weeks just by US$20/ton to US$40/ton.
Domestic rebars are currently priced at US$728/ton to US$730/ton for traders and US$734/ton to US$736/ton for end computers. Rebars ex-Daehan steel mills are priced at US$713-US$720/ton which is down by US$15/ton to US$16/ton since late October. This is due to weakening value of US dollars. Japanese rebars are priced at US$500-US$530/ton C&F which were noted at US$540-US$550/ton two weeks ago. Japanese and Russian billets are priced at US$310-US$330/ton which is US$20/ton lower than last week"s.