South Korea: POSCO raises stainless steel prices by $167/t for March sales

South Korean steel major POSCO has hiked stainless steel 300 series prices by KRW 200,000/t ($167/t) and 316L products prices by KRW 50,000/t ($42/t) for Mar’22 sales. After keeping prices stable since Dec, the company decided to raise stainless steel prices following an increase in nickel prices which have crossed $24,000/t levels while molybdenum (used in 316L series) prices have risen over $42,000/t.