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Posco to increase ship steel plate prices

Seoul: Leading steelmaker Posco has announced that as of October 25, the price of steel plates used in the shipbuilding will see a 9.9% increase to 665,000 won ($275). The rise has been attributed to the growing demand for the product that far outstrips current supplies of raw materials. 'Global steel prices are rising recently on the back of a strong demand and higher costs of raw materials such as iron ore and iron scraps,' Posco said in a statement to the press. Prices of its other steel products will remain unchanged.  [11/10/07]

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