Seah Changwon, the sole producer of stainless steel rods and wires in South Korea, has announced a reduction in prices of 300 series stainless steel wire rod by KRW 200,000/t ($159/t) from 1 Jun’22 in view of bearish demand and sluggish trends in the nickel market, as per SteelDaily. The company had raised the unit price of 300 series wires by a total of KRW 1.4 million between Feb-May due to the surge in nickel prices.
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