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Posco SS cuts stainless wire rod and bar domestic prices for August
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Reportedly, Posco Specialty Steel (Posco SS) announced to cut the domestic prices of austenitic stainless wire rod and bar for August deliveries in response to declined nickel prices.
Posco SS decided to reduce the domestic prices of stainless wire rod and bar by 200,000 won/ton and 100,000 won/ton respectively for August.
It’s known that the nickel prices have decreased below US$16,000/ton since the middle of July.
Meanwhile, South Korea’s production of specialty bars totaled 222,400 tons, falling by 2% from a month earlier, according to data released by the Korea Iron and Steel Association.
News Date
8/3/2012 1:27:27 PM
reported by
Nann Cheng
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