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Article: United States : POSCO to increase the domestic stainless steel price for September.
- Article from:
- TendersInfo
- Article date:
- August 6, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: sanjayV03
Due to the rising of the international nickel price, POSCO plans to lift the domestic stainless steel price from September to offset the growth of cost. Source from the local traders noted that the demand of S.Korea in summer is usually weak and the local retailers have already increased purchase to fill void for the inventory.
A spokesman of POSCO said "owing to the price growth of the raw materials, such as nickel, and etc, we plan to lift the price, but present it is not clear that the company will completely or partly offset the cost rising". On August 4, the nickel price in London metal exchange (LME) climbed to U.S.$ 18,580/ton, ...