According to report, South Korea’s Posco Specialty Steel will keep the domestic prices the same for September contracts for stainless wire rod and bar.

It is expected that the price may change as the domestic demand may pick up for the second half, but the company chose to maintain the prices on weak nickel prices.

The price is expected to be around 4~4.1 million won per ton for 300 series wire rod base price.

The company recently merged with SeAH’s subsidiary SeAH Besteel. The move may help to increase the corporate value of Posco SS and keep its global competitiveness.