S.Korea Dongkuk Cuts Rebar Prices

According to a Reuters report, South Korea's third-largest steelmaker, Dongkuk Steel Mill, said on Dec. 1 it would cut prices of rebar by 11 percent to bring prices of its construction steel in line with that made by a rival. Its local peer Hyundai Steel said on Nov. 28 it would cut prices of rebar by 11 percent, its second price cut in a month, due to weakening demand from the construction sector and falling prices of raw materials such as scrap metal.

(Source: Reuters)