Recently, the benchmark price of H-beam in January 2019 was lowered by South Korea's Dongguo Iron and Steel Co., Ltd. from 900,000 won/ton (about 804.02 US dollars/ton) to 850,000 won/ton (about 759.36 US dollars/ton). Earlier, due to seasonal reasons, the price of H-beam steel in East China dropped from 870,000 won/ton to 880,000 won/ton in November 2018 ($777.22/ton to $786.16/ton) to 830,000 won/ton at the end of 2018 ($741.49/ton).
Meanwhile, Dongguo Iron and Steel announced its reinforcing steel price in January 2019, which was the same as in the fourth quarter of 2018. The price of SD400 and 10mm diameter reinforcing steel was 740,000 won/ton (about 661.09 US dollars/ton). In addition, Dongguo Iron and Steel has made it clear that the price of reinforcing steel will be independently priced on a quarterly basis, without price negotiations with Korean domestic construction companies.
At the end of 2018, the price of reinforcing steel provided to construction companies in Korea was negotiated. Once the independent pricing policy is implemented, such price negotiations with construction companies will no longer be effective.
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