It's reported that Korean Dongkuk Steel announced to raise its rebar domestic sales prices by KRW20, 000/ton to reflect higher input costs, effective from August 19th.
After the adjustment, its prices for SD400 rebar with diameter of 10mm are at KRW740, 000/ton.
Dongkuk Steel stated that it decided to raise rebar prices due to higher scrap prices and tight supply.
It's learned that the country's restriction on power supply has caused rebar production drop.