Dear users,
To provide a more accurate reflection of domestic rebar prices in South Korea and support market participants in procurement, pricing, cost calculation and trade decision-making, SMM will officially launch the following price points on October 19, 2026:
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Rebar SD400 D10 DEL South Korea (KRW/tonne)
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Rebar SD400 D10 DEL South Korea (USD/tonne)
South Korea is an important steel-producing and consuming market in Northeast Asia. Changes in domestic construction demand, raw material costs, steelmakers' production schedules and pricing policies can directly influence rebar prices and market sentiment.
The introduction of these price points aims to improve price transparency in South Korea's rebar market and provide consistent, comparable benchmarks for monitoring price movements among major South Korean steelmakers. These references will also support price comparisons and procurement decisions among steel traders, distributors and downstream consumers.
Price Assessment Specifications
1. General Assessment Basis
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Price type: Domestic steelmaker reference price
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Price term: Delivered (DEL), South Korea
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Market: South Korea domestic
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Reference producers: Dongkuk Steel and Hyundai Steel
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Currency and unit: KRW/tonne and USD/tonne
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Tax treatment: Prices exclude South Korea's 10% value-added tax (VAT).
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Freight coverage: Prices include standard domestic transportation costs under normal delivery conditions. Short-load surcharges, unloading charges and other additional logistics costs are excluded. Actual delivered prices may vary depending on the delivery destination, transport vehicle and loading conditions.
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Currency conversion: USD-denominated prices are converted from KRW-denominated prices using the USD/KRW exchange rate applicable to the respective reporting date. The exchange rate source and conversion timing will be specified in the price assessment methodology.
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Publication frequency: Weekly, every Friday
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Information collection period: Friday, 9:00–11:00 AM Kuala Lumpur / Beijing time
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Publication time: Every Friday, before 4:00 PM Kuala Lumpur / Beijing time
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Launch date: October 19, 2026
2. Product Specifications
Rebar (KRW)
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Price point: Rebar SD400 D10 DEL South Korea (KRW/tonne)
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Price code: SMM-GS-RB-020
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Grade: SD400
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Diameter: D10 (nominal diameter of 10 mm)
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Standard: KS D 3504
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Reference producers: Dongkuk Steel and Hyundai Steel
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Product form: Straight hot-rolled deformed reinforcing bar
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Minimum transaction volume: ≥1 BD (Bundle) (Around 1 tonne)
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Quality requirements: Hot-rolled deformed reinforcing bar complying with KS D 3504, with a minimum yield strength of 400 MPa. The material should be free from significant cracks, surface defects or other imperfections affecting its structural performance. Chemical composition, mechanical properties and dimensional tolerances shall comply with the applicable standard. Coiled rebar products, including DKOIL, are excluded.
Rebar (USD)
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Price point: Rebar SD400 D10 DEL South Korea (USD/tonne)
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Price code: SMM-GS-RB-021
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Grade: SD400
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Diameter: D10 (nominal diameter of 10 mm)
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Standard: KS D 3504
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Reference producers: Dongkuk Steel and Hyundai Steel
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Product form: Straight hot-rolled deformed reinforcing bar
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Minimum transaction volume: ≥1 BD (Bundle) (Around 1 tonne)
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Quality requirements: Identical to the KRW-denominated reference price.
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Currency conversion: Converted from the corresponding KRW/tonne reference price using the applicable reporting-date USD/KRW exchange rate.
3. Payment Terms
The reference price basis includes the following standard payment arrangements, subject to agreement between the supplier and buyer:
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Bank transfer or cash payment;
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Short-term credit of up to approximately 30 days.
Any price differences arising from alternative payment arrangements will be considered by SMM when evaluating the comparability of pricing information.
4. Delivery Period
For available stock, delivery is typically arranged within 7–14 days after order confirmation, depending on product availability, delivery location and logistical arrangements.
For non-stock orders, delivery schedules are subject to the production and dispatch arrangements of Dongkuk Steel and Hyundai Steel.
The reference prices apply to standard domestic delivery conditions within South Korea. Actual delivered prices may vary depending on the delivery region, transportation arrangements and loading conditions. The applicable geographic coverage and delivery conditions will be specified in the price assessment methodology.
5. Price Assessment Methodology
The newly introduced price points will be assessed based on pricing information from Dongkuk Steel and Hyundai Steel for SD400 D10 rebar, together with verifiable market feedback, to evaluate domestic rebar price movements in South Korea.
SMM will collect and verify relevant pricing information every Friday, reviewing product specifications, delivery conditions, payment terms and other applicable commercial arrangements to ensure consistency with the established assessment basis.
For price differences arising from different steelmakers, delivery locations or commercial terms, SMM will evaluate the comparability of the information and apply necessary normalization adjustments in accordance with its established price assessment methodology to improve assessment consistency and comparability.
The USD-denominated reference price will be calculated from the corresponding KRW-denominated reference price using the USD/KRW exchange rate applicable to the reporting date. The exchange rate source, conversion timing and rounding conventions will be specified in the price assessment methodology to ensure consistency and transparency.
SMM will continue to monitor price adjustments by major South Korean steelmakers, raw material costs, construction demand and related market developments to further enhance its steel pricing information services in South Korea.
Thank you for your continued attention to and support for the SMM steel price assessment system.