Thursday, May 04, 2006

Posco increase stainless price by 9%

Posco, the world’s fifth-largest steelmaker, increased the price of its stainless steel products as much as 9 percent because of the higher cost of nickel, a key raw material.
Posco raised the price of stainless steel hot-rolled coil 9 percent to 2.4 million won ($2,554) a metric ton starting May 3, Bae Hyo-seop, an official at the Pohang, Korea-based company’s public relations department, said yesterday.

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