Starting from November 18th, Suhe Group will raise the prices of thick plate products corresponding to imported thick plates from South Korea. This move may become a driving force for the previously weak China thick plate prices to rise.
Suhe Group has notified Suhe Processing Center to raise the prices of products corresponding to imported thick plates by 10000 Korean won per ton. The price will be raised starting from next week, and the target of this adjustment is GS steel grade.
The processing center believes that the Chinese quotation is at its lowest point at this time, and the market price is showing an upward trend, and holds an optimistic attitude towards this.
The price increase of Suhe this time may become a driving force for the turning point of domestic thick plate prices in South Korea, especially in the hope of reducing the current losses. Industry insiders say that due to the recent slight decrease in inventory in the China market, an increase in the US dollar exchange rate, the release of China’s winter production reduction plan, and the slowdown in domestic prices of thick plates in China, this may become an opportunity for the China thick plate market to turn around.
