It is reported that South Korean Posco plans to cut stainless steel price by some US$380/ton, mainly due to nickel slump. China’s Tisco has also announced to reduce stainless steel price in September.

Tisco's list prices of stainless steel is about 350,000 wow cheaper than Posco’s price, and market analyst even predicted the price may drop further due to the few orders.

Posco also denied that it will proudce 200 series stainless steel.