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Posco will not raise stainless steel prices for April contracts

Leaders of the South Korean steel company Pohang Iron and Steel Company has decided to leave the prices of stainless steel for the April domestic supply at the same level of the market. Thus, the cold metal 304 from the manufacturer for local buyers will be in next month's 3.87 million KRW (South Korean won) per ton, and hot-rolled stainless steel -. 3.6 million. Steel 430 series CRC (cold rolled) will be dispensed with Posco warehouses at a cost of 2.42 million. Won per ton, and stainless HRC (hot rolled) of the same brand will be sold at 2.04 million. KRW.

According to the Pohang Iron and Steel Company, the decision to leave in the last month, the level of stainless steel production costs dictated by the relatively weak consumer demand, but the company's management believes the current year perspective for this market, and therefore allows the possibility of adjusting the price tags on the increase in the near future time. Recall that a few days earlier Posco analysts expressed their views on the stainless steel sector recovery after the «bottom reached earlier this year.» And in the comments of experts sounded confident that a tangible recovery in this market can be expected in the near future — starting with the II quarter of 2012.

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