South Korea's major ship board suppliers collectively raise prices again in two months
South Korean shipping companies are full of worries and fear that if the domestic steel plate prices continue to rise, their profits will be further hit. Since the import of steel plates from Japan in the second quarter of this year has been substantially reduced, the stocks of steel plates of Korean shipping companies have been decreasing. It is understood that at present, 30% of the steel plates required by Korean shipping companies are imported from Japan.
Insiders pointed out that the increase in prices of South Korean steel companies deviated from the downward trend in international steel prices. However, South Korean steel companies explained that price increases are inevitable due to rising iron ore prices. Steel companies also pointed out that “Although we have increased the price of steel plates, we are still at a low level compared with the prices in the international market.â€