South Korea: POSCO freezes stainless steel prices for Jul’24

POSCO will maintain stable stainless steel prices in July, citing stabilised nickel prices post-resolutions in New Caledonia and Indonesia. Ferrochrome and molybdenum prices declined for Q3, impacting raw material costs. Global markets vary: Japanese prices rose, while non-Japanese alloy surcharges fell slightly. POSCO froze prices amid cautious domestic sentiment and sluggish demand, aiming to stabilise markets during the off-season with customised pricing strategies.