South Korea: POSCO may raise purchase price of stainless steel scrap

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Rumors are rife that POSCO’s purchase price of 304 stainless steel scrap has increased by KRW 270,000/t ($221/t) on 6 Apr’22 from levels prevailing last year, as per a SteelDaily report.
The recent LME nickel price, which remained strong at $33,000/t in March, is supporting the price hike.
Morever, some large retailers are likely to raise prices by KRW 400,000/t ($328/t) from 15 Apr’22.

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