South Korea's largest steelmaker POSCO will reduce its stainless steel production by 30 percent for the fourth quarter of the current year, with the aim of providing support for prices.
The company cut its stainless steel production by 17 percent to 334,000 mt in the third quarter compared to the previous quarter, and will further reduce production by 30 percent for the fourth quarter. The tonnage to be affected by the rollback will be 150,000 mt.