South Korean steelmaker POSCO raised the price of 300 series stainless steel by 100,000 won per ton for September, due to higher nickel pig iron, chromium, and energy costs and the increased production costs driven by high exchange rates.
Meanwhile, the price of 400 series stainless steel was kept flat.

Besides, the molybdenum price has recently risen owing to unstable supply and demand. Therefore, the surcharge of 316L was raised by 100,000 won per ton as well.

POSCO said that it will commit to stabilizing the supply of raw materials for the balance of domestic demand and supply.