South Korea: POSCO raises stainless steel prices for Feb’25 amid rising costs

South Korean steelmaker POSCO has raised stainless steel prices by KRW 100,000/t ($68/t) for Feb’25, reversing an earlier freeze. The hike follows rising costs from a higher KRW-USD exchange rate and a 10.2% increase in industrial electricity tariffs since Oct’24. Despite weak demand, POSCO seeks to manage cost pressures while navigating challenging market conditions.