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