 |
|
||||||||||||||
| POSCO to hike 400 series stainless steel prices by 5pct from April |
| BY steelguru.com, Writer |
| Bloomberg reported that POSCO will increase domestic prices of the alloy used in home appliances and cars by about 5% in April 2011 because of rising raw material costs. Mr Chung Jae Woong spokesman for POSCO said that prices of the 400 series hot rolled coil will climb by KRW 100,000 a tonne to KRW 2.04 million in April 2011. He didn't give details about scrap costs. The 300 series hot rolled products, used mostly in buildings, will drop by KRW 100,000 a tonne to KRW 4 million after prices of nickel fell. Nickel for delivery in three months dropped about 10% this month on the London Metal Exchange. Stainless steel products contributed about 13% of POSCO's sales in 2009. |