SOUTH KOREA'S STEEL PRODUCERS CONSIDER PRICE HIKES

South Korea’s leading steel producers are mulling plans to raise prices after years of falling prices depressed revenue.

The country's largest steelmaker POSCO raised prices of its hot-rolled steel plates by as much as 30-thousand won, or about 26 U.S. dollars, per ton in January, before raising prices by as much as 30-thousand won again early this month.

The Pohang-based firm is also considering hiking prices of its cold-rolled plates and thick plates.

Hyundai Steel is also known to be continuing reviews of key products and considering raising prices.

South Korean steel prices have been on a downslide since 2011 but increased costs in iron ore and other commodities, price rises in Chinese products and a weaker Korean won appear to have stemmed the fall.