Steel sheet import delivery prices

Shipbuilding companies will import more sheet steel to set the delivery price of small and medium enterprises for the balance of sheet steel supply and demand.
Presidents from shipbuilding companies including president Jung Sung Lip of DSME and their associations made the decision in a meeting under the superintendence of Minister Lee Hee-Byum at the Ministry of Commerce, Industry and Energy in the Kwacheon Government Complex, March 19.
The shipbuilders announced that they would be supplied with 0.47 million tons of steel sheets by steel companies and the remainder would be filled up by using existing import vessels for 0.54 million tons to help make up the shortage for the 4.57 million tons of sheet steel required this year.
Large shipbuilders and steel companies will supply 74,000 tons of sheet steel for small shipbuilders and materials companies for shipbuilding. Also, they will increase the delivery price for small and medium enterprises suffering from increased prices of raw materials, a bottleneck in supply and demand.
Meanwhile, Minister Lee said, "I request that shipbuilders would endeavor for worldwide competitiveness through smooth production, export, and investment plans," and added, "The Ministry of Labor and Fair Trade Commission must do research on actual conditions of contracts of the business without losing the faith of the shipbuilding companies."