South Korea’s Posco adds $47/t on flats exports to Japan

Posco, South Korea’s largest steel producer and a major carbon steel exporter to Japan, has notified its Japanese customers of raising its export offering prices of all flats including hot-rolled and cold-rolled coils by around Yen 5,000/t ($47/t) starting November shipments, market sources shared on October 13.

Tokyo-based Posco Japan was not available for comment about the price hikes on Tuesday, but Tokyo traders confirmed, believing the decision is to help Posco transfer higher input costs to finished steel. “The hike has been expected, so it has not surprised the Japanese market, and the announcement has been much later than the others