July 20, 2008

POSCO and Hyundai to increase stainless steel price in May

YEIH reported that POSCO is going to increase its stainless steel price on May 2008. The main reason is high price on ferrous alloy recently. As a result, newest quotation price of stainless steel wire rod products for 200, 300, 400 series are predicted to raise by USD 194.17 per tonne. Also, stainless steel bar products for 300 series and 400 series are up by USD 291.26 per tonne and USD 194.17 per tonne respectively.

Hyundai steel also announces that it will increase its market price of stainless steel cold rolled coil for 304 and 430 series by USD 485.44 per tonne and USD 417.48 per tonne respectively.