Due to the recent agreement failure, South Korean steel mills and local shipyards will have to continue their negotiations over the shipbuilding plate prices, reports SteelOrbis. According to the report, South Korean shipbuilding companies requested the shipbuilding plate prices to be lessened by KRW 100,000 per ton due to lower ship prices and overflow of plates.
However, the steel mills stood their ground in negotiations saying that they can only reduce prices slightly or otherwise they will start to suffer losses. Some South Korean shipyards have already started reducing their purchase volumes in order to make some pressure on the domestic plate producers.
[mappress]
Shipbuilding Tribune Staff, January 9, 2012;