Dongkuk Steel to raise price of ship steel plates

SEOUL, Sept. 23 (Yonhap) -- Dongkuk Steel Mill Co., South Korea's third-largest
steelmaker, said Tuesday that it plans to raise the price of ship steel plates by
12 percent to reflect increased costs of raw materials.
The price of the steel product will be increased by 150,000 won (US$131) per ton
to 1.41 million from Monday, according to the company. The price of other heavy
steel plates will rise by 150,000 won to 1.44 million won per ton, it said.
The planned price hike will be the third price increase this year.
Dongkuk Steel Mill said prices of raw materials such as slabs have risen more
than 50 percent so far this year, eroding its profitability.
Shares of Dongkuk Steel Mill closed at 38,900 won on the Seoul bourse, down 0.26
percent.