POSCO has lowered the price of 304 stainless steel scrap by KRW 400/kg and 316 scrap by KRW 410/kg. 400 series stainless steel scrap prices were reduced by KRW 115/kg in Jul’22 compared to the year-ago month. The market is closely watching the direction of prices for orders placed in Aug, while POSCO’s purchase price for stainless steel scrap was reduced in Jul.
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