South Korea’s shipbuilding are demanding steelmakers cut the price of steel plates as raw material costs have fallen this month. Steel plates that are over 6mm in thick, which are used to the make hulls of ships, account for about 20 percent of shipbuilding costs. The country’s three biggest shipbuilders helped POSCO restore its operations after its Pohang mill was hit by floods in September, but the once-warm atmosphere turned cold in price negotiations.
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