South Korea likely to freeze Dec’25 stainless steel prices amid weak demand, exchange pressure

• December STS prices likely to remain unchanged
• FX pressures offset cost relief from falling nickel prices

SteelDaily: South Korea’s stainless steel (STS) market is expected to enter December with no price changes, as mills face a combination of rising exchange-rate pressure, weak domestic demand, and limited support from overseas markets. Industry participants anticipate that POSCO will maintain December shipment prices, despite a decline in global nickel prices.

LME nickel averaged $14,700/t in November, down $379 m-o-m, but the benefit was offset by the Korean won’s sharp rise to KRW 1,475/USD, increasing raw material import costs and neutralising nickel relief.

Domestic demand remained soft, with November STS sales estimated to have fallen 20–30% m-o-m. Imports are expected at around 40,000 t, only slightly higher than October, keeping upward price momentum in check.

Overseas markets offered little support-European trading stayed subdued despite marginal surcharge increases, while Asian export prices hovered at a weak $1,850–1,870/t CIF, and China’s 304 CR coil fell to CNY 13,300/t.

With costs, demand, and import dynamics all restrictive, industry participants expect POSCO to prioritise market stability and maintain a December price freeze.

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