4th Largest Steel Maker Plans Price Increase

POSCO, the fourth largest steel manufacturer, says it plans price increases in the near future. The South Korean company says that since its steel prices still rival many of its competitors, it will raise prices on some products to close the gap and stay profitable.

POSCO has raised prices 63 percent this year through three rounds of increases as mills struggle with record iron ore and coal prices.

Sources:

Reuters

Bloomberg.com

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