ID :
27779
Fri, 10/31/2008 - 18:15
Auther :
Shortlink :
https://www.oananews.org//node/27779
The shortlink copeid
Hyundai Steel to cut prices on slow demand, falling costs
SEOUL, Oct. 31 (Yonhap) -- Hyundai Steel Co., South Korea's second-largest steelmaker, said Friday it will cut product prices beginning next month as demand is slowing and costs of steel scrap are falling amid fears of a global economic recession.
Starting November, Hyundai Steel will slash prices by some 100,000 won (USR$78.2)
per metric ton, the company said in a statement.
The price of wire rod will be reduced from 1.02 million won to 921,000 won per
metric ton and the price of small H-beam will be lowered from 1.19 million won to
1.09 million won per metric ton, according to the statement.
Starting November, Hyundai Steel will slash prices by some 100,000 won (USR$78.2)
per metric ton, the company said in a statement.
The price of wire rod will be reduced from 1.02 million won to 921,000 won per
metric ton and the price of small H-beam will be lowered from 1.19 million won to
1.09 million won per metric ton, according to the statement.
