Posted on 06 Dec 2022
South Korea's steel mill POSCO was still not totally recovered from September's typhoon strike, adding local demand remained low and the trucker drivers' strike caused the loss.
For now, the company decided to hold the steel plate offer for Taiwan's inquiry.
The market players said there haven't been price offers from POSCO since China Steel Corporation (CSC) opened new list prices in early November.
POSCO is hoping to restart from a more transparent outlook from the current low market sentiment. Along with the iron ore price upward, China and US' hot-rolled coil price is going up, and they bear big hope to offer higher export prices soon to compensate a bit for the loss from the driver strike.
Moreover, POSCO held negative for the steel market for 2023, predicting the global steel growth might be only about 1%.
Source:Yieh
