- Hot-rolled coil, plate prices may be raised
- Rising costs may lift cold-rolled prices too
SteelDaily: Market speculation intensified on 9 January after rumours circulated across South Korea’s stainless steel industry that POSCO may raise stainless steel prices by KRW 200,000/t ($137/t). Participants indicated that the increase, if confirmed, could be implemented with immediate effect, particularly for hot-rolled coils and thick plates, triggering heightened caution across the value chain.
Industry sources noted that POSCO has implemented mid-month price revisions in the past, lending credibility to the speculation. With raw material costs elevated and nickel prices remaining firm, market participants believe that a hike of this magnitude could set the stage for further increases across stainless steel products, including cold-rolled material, due to rising conversion costs.
However, details regarding the scope, timing, and product coverage remain unconfirmed. POSCO has yet to issue an official announcement, prompting buyers to closely monitor developments. Some early buying interest was reportedly observed as customers attempted to hedge against potential price hikes. Market sentiment remains cautious, with clarity expected only after an official communication from the mill.
Note: This article has been written in accordance with a content exchange agreement between SteelDaily and BigMint.
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