POSCO cuts 304 series stainless steel domestic prices for June

South Korea-based conglomerate POSCO has cut its domestic austenitic stainless steel prices for June shipments by KRW 300,000/mt ($256/mt), its first price adjustment in eight months, while the producer has kept its ferritic  stainless steel prices unchanged.
 
Accordingly, POSCO is now offering 304 series hot rolled coil (HRC) to its domestic market at KRW 3.3 million/mt ($2,821/mt), while its local prices for 304 series cold rolled coils (CRC) are at KRW 3.57 million/mt ($3,051/mt). In the meantime, the producer's domestic prices for 430 series HRC and CRC are still standing at KRW 2.04 million/mt ($1,744/mt) and KRW 2.42 million/mt ($2,068/mt) respectively. All prices are on ex-works basis.
 
$1 = KRW 1,170