South Korean steel giant announced to raise the October list prices for stainless steel products by 200,000 won/ton in early October, driven by rebounded nickel prices.
However, industry sources said that Posco may fail the raise the prices as the South Korean stainless steel market turned weak again after the nickel prices dropped recently.
On October 15th, the spot nickel prices on LME slumped by US$1,400/ton to US$17,200~US$17,205/ton within a week.
It's learned that the South Korean buyers have taken wait-and-see position as the nickel prices dropped.