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POSCO increases 300 series stainless steel prices for Jul

3 Jul 2020 15:24 reported by Claude Tseng

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POSCO announced to increase its stainless steel price for July. The company rose the price of 300 series stainless steel by 100,000 won per ton and kept the 400 series price.

POSCO attempted to reduce the discount rate in order to promote market prices. Due to the impact of COVID-19, South Korean domestic demand has been delayed. Considering the cost burden of customers, POSCO has frozen the prices since March.

However, due to the burden of nickel and chromium and other raw material costs, POSCO was forced to increase prices in July.

The firm said it will continue to pay close attention to the cost of raw materials such as nickel and chromium and the price trends of imported materials, and it might increase prices if necessary.

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