POSCO makes significant increase to SS export price

South Korean steel producer POSCO is offering USD 4,000-4,100/mt CFR to Southeast Asia for hot rolled stainless products to be shipped in March. In addition, the same producer is offering cold rolled at USD 4,300-4,400/mt under the same conditions. These HR and CR export prices are up USD 200/mt compared with one month previous. Furthermore, Japan are offering Yen 510,000/mt (FOB, March shipment) for hot rolled and Yen 560,000/mt (FOB, April shipment) for cold rolled. These price levels represent an increase of Yen 40,000/mt - following the price hike of Yen 30,000/mt announced last month. POSCO cites rising nickel prices as the reason behind its decision to up its prices.