South Korea: POSCO rolls over cold-rolled steel prices for Oct’21 sales

South Korean steel giant POSCO will roll over prices for cold-rolled steel for sales in Oct’21, as per SteelDaily.

POSCO, which had continued to raise its prices this year, kept them unchanged twice in April and August, and has decided to freeze them for October as well.

As a result, competitors are also weighing the possibility of a roll-over.

This is because the supply of downstream products is still tight because of erratic supply in and demand for hot rolled steel products.

A Korean steel industry official said, “We expect steel prices to remain flat for the time being due to the low trading volume in the domestic market, and energy issues, like the power crisis in China.”