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| Hot Rolled Coil |
POSCO and Hyundai Steel Announce April Price Increases
South Korean steelmakers POSCO and Hyundai Steel will raise hot-rolled coil (HRC) prices for April sales. The increase reflects supply shortages and rising production costs. Prices for major distributors will rise by 30,000–40,000 won per ton, equivalent to $20–27/ton. POSCO implemented its last hike in March, while Hyundai Steel adjusted prices in February–March. As a result, both companies are expected to maintain upward price momentum throughout the first half of 2026.
Market Dynamics Behind HRC Price Surge
The surge in South Korea hot-rolled steel prices is driven by anti-dumping measures, tight domestic supply, and rising raw material costs. Iron ore and coking coal prices have increased significantly, pressuring steel production margins. Meanwhile, import costs for HRC have surged due to temporary anti-dumping duties imposed on Chinese and Japanese steel. These combined factors pushed domestic HRC prices from 800,000 won/t ($531/t) at the start of the year to 860,000 won/t ($570/t) by mid-March. Therefore, distributors and buyers are anticipating continued price increases in the near term.
Implications for Steel Industry and Downstream Sectors
As a result, construction, automotive, and manufacturing industries may face higher input costs. Steelmakers benefit from stronger margins, yet downstream buyers must adjust budgets accordingly. Meanwhile, market analysts expect South Korea hot-rolled steel price hike momentum to persist until supply stabilizes or raw material costs decline. In addition, regulatory measures and anti-dumping policies continue to influence pricing and competitiveness in the region.
ScrapInsight Commentary
The sustained price increase reflects persistent raw material pressures and domestic supply constraints. Anti-dumping duties on imports reinforce local steel competitiveness. Downstream sectors should anticipate higher costs, while HRC margins remain robust.
