Hyundai Heavy Industries Co., the world’s biggest buyer of steel plate, plans to increase use of the material 14 percent this year. The world’s largest shipyard expect to use 4 million metric tons of plate in 2011. Consumption at the world’s six largest shipyards, all in Korea, would touch 8 million MT.
The increase in demand may help Posco and Dongkuk Steel Mil to increase prices. Prices have remained unchanged at US$850 T since last July.
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