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S. KOREAN STEELMAKERS IMPLEMENT 1ST PRICE CUT THIS YEAR.
SEOUL, June 1 Asia Pulse - South Korean steelmakers will implement their first price cut this year, following a string of recent price hikes in line with rising global prices for raw materials.
POSCO said today it is to lower the domestic price for its 300 series stainless steel by 7.6 per cent, starting with shipments in the middle of this month. As a result, the per-ton price for hot-rolled 300 series stainless steel will drop to 2.43 million won (US$2,080) from 2.63 million won, while the cold-rolled steel price is to fall by 240,000 won per ton to 2.91 million won.
INI Steel will also bring down ...
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