Tag: exchange rate impact

South Korea: POSCO hikes prices of 300 series stainless steel in Jan’25 amid higher exchange rates

Jan 3, 2025

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by

Manya Dewangan

in Stainless Steel

South Korean steelmaker POSCO raised prices of 300 series stainless steel by KRW 100,000/t ($68/t) for Jan’25, amid rising costs due to a higher KRW-USD exchange rate and a 10.2% increase in industrial electricity tariffs since Oct’24. Despite weak nickel prices, POSCO aims to curb cost pressures while managing sluggish domestic demand and market conditions.