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Posco likely to raise stainless steel prices

11 Sep 2008 15:42 reported by Ivy Wei

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As the Korean currency dropped sharply recently against the US dollar, the difference between Posco HR price and that of other Asian countries, such as Japan and China, has become bigger and bigger.

Reportedly, hot rolled coil from China and Japan are set at more than US$1,000/ton, which is US$270/ton higher than Posco’s price.

On the other hand, it’s said that Posco considered lifting its stainless steel price as imported nickel costs kept surging, due to higher operating cost caused by Korean currency decline.

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