POSCO issues local stainless steel prices for July

South Korea-based steel giant POSCO has kept its domestic austenitic stainless steel and its ferritic stainless steel list prices stable for July orders as compared to last month. In fact, POSCO had changed its austenitic stainless steel prices for the last time in October 2012, raising them by KRW 200,000/mt and had increased its ferritic stainless steel prices by KRW 100,000 mt in May this year.
 
Accordingly, POSCO is still offering 304 series hot rolled coil (HRC) to its domestic market at KRW 3.5 million/mt ($3,084/mt), while its local prices for 304 series cold rolled coils (CRC) are at KRW 3.77 million/mt ($3,322/mt). In the meantime, the producer's domestic prices for 430 series HRC and CRC are still standing at KRW 2.14 million/mt ($1,885/mt) and KRW 2.52 million/mt ($2,220/mt) respectively. All prices are on ex-works basis.
 
$1 = KRW 1,135