South Korean steel giant POSCO hiked its prices for
stainless steel products as much as 9 percent effective as of May 3, 2006.
The producer increased prices of
stainless steel hot rolled products by 9 percent and that of
stainless steel cold rolled products by 8 percent.
POSCO produces about 1.8 to 2 million tons of
stainless steel per annum.