South Korea: POSCO’s stainless steel scrap prices to increase in Jun’22

Posco’s stainless scrap prices are frozen in May 22, which are expected to rise in June 2022 by KRW 100,000-200,000/t ($78-157/t), as per SteelDaily reports.

POSCO’s 300 series stainless scrap prices were frozen for May 2022 and the cost of major raw materials such as nickel, ferrochrome and stainless scrap were not fully reflected. As a result, the company predicted a price increase of KRW 200,000/t for the 300 series.