(MENAFN) Hyundai Steel Co., a top South Korean steelmaking firm associated with Hyundai Motor Group, has decided to raise prices of its key steel materials here starting next month.
This decision comes in line with the recent jump in production cost, so the prices for its hot-rolled and cold-rolled steel plates being sold locally will be raised by nearly USD25.14 per ton.
According to the latest reports, the scheduled hike is intended to reflect an increase in raw material prices that has driven up its overall production costs since late last year.
Additionally, Hyundai Steel has been hesitating to surge steel prices for worries that it could impact their price cheapness against Chinese competitors armed with excessively low-priced goods.
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