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POSCO to refrain from adjusting prices for stainless steel

Management company Pohang Iron and Steel Company (Pohang, South Korea) decided to leave the July prices for stainless steel at the same level. According to statements by representatives of the steel corporation, the cost of hot-rolled stainless steel sheet 304 for domestic consumers of the country remain at the level of 3.3 million. KRW per ton. Cold-rolled stainless steel is of the class, as in the first month of summer, in July, with POSCO warehouses will be released at the price of 3.57 million. KRW per ton. Do not go up and the steel series 430: cost of a ton X / K of the stainless metal grades for the July deliveries will remain at 2.42 million won, and the price of H / K of steel — at 2.04 million KRW per ton…

Earlier, reporters Maeil Business Newspaper reported that POSCO management planned to raise its own prices for cold rolled and hot rolled steel since July. According to preliminary data, these products should grow by an average of 9%. However, it seems, sluggish consumer demand for stainless market and dumping policy did not allow the South Korean competitors metallurgists to take this step, so the July price of the company remained unchanged.

Recall that at the beginning of last month's guidance Pohang Iron and Steel Company adjusted the value of its own production to decrease. In particular, the changes have affected the price of stainless steel grade 304 (when a ton of the metal fell to 300 thousand. Won). The cost of rental mark 430 (as in this month) in early June, did not change.

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