After raising the surcharge of 300 series stainless steel, South Korea Posco announced that the prices of 400 series stainless steel would be adding by 70,000 won/ton (US$75/ton) after April 5, 2007.

Posco Special Steel too plans to increase the prices for stainless steel wire to offset higher price of nickel.

The three-month nickel price on the LME has touched a new record levels on March 16 as US$48,500/ton.