POSCO keeps July stainless steel prices unchanged to support market stability

SteelDaily: South Korea's POSCO has decided to maintain stainless steel prices unchanged for July shipments, prioritising market stability despite persistent cost pressures. The move comes after the company increased prices for 300-series, 400-series, and 316L stainless steel products in mid-June.

Although London Metal Exchange (LME) nickel prices have declined in recent weeks, POSCO continues to face elevated production costs due to the strong Korean won-US dollar exchange rate, firm nickel pig iron (NPI) prices, and stable domestic stainless steel prices in China. Higher exchange rates have also increased the cost of imported raw materials, energy, logistics, and other manufacturing inputs.

The company believes the June price increase has yet to be fully reflected in the domestic distribution market, where demand remains weak and competition from imported stainless steel continues to intensify. By keeping prices unchanged in July, POSCO aims to provide the market with time to absorb the previous increase while supporting price stability amid sluggish downstream demand and high-cost inventories.

The decision reflects the company's focus on balancing cost pressures with prevailing market conditions, as demand recovery remains slow and distributors continue to face challenges in passing on higher prices to end-users.

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