SEOUL: South Korean steelmakers have raised prices of automotive steel for the first time in four years, people familiar with the matter said yesterday, a move that could boost their bottom lines.
Posco, the country’s largest steelmaker, reached a deal with Hyundai Motor Co and Kia Corp to raise the price of a tonne of automotive steel to 50,000 won (RM186), they said, according to Yonhap news agency.
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