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South Korea’s largest steelmakers, POSCO and Hyundai Steel Co. are demanding that the ship steel plate prices be increased to 1.15 million won per ton in the second half, up 64 percent from 700,000 won in the first half.
The first-half price of 700,000 won per ton is already a 17 percent jump from the previous 600,000 won tag.
The two steelmakers are currently negotiating with Korea Shipbuilding & Offshore Engineering Co., Samsung Heavy Industries Co., and Daewoo Shipbuilding & Marine Engineering Co.
Steelmakers and shipbuilders negotiate ship steel plate prices twice a year.
A steel industry official believes it would take some time before they reach an agreement due to the huge price gap between the two sides.
